Wall Street analysts expect Hope Bancorp, Inc. (NASDAQ:HOPE) to report earnings of $0.31 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Hope Bancorp’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.32. Hope Bancorp also reported earnings of $0.31 per share in the same quarter last year. The firm is expected to issue its next quarterly earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Hope Bancorp will report full-year earnings of $1.20 per share for the current year, with EPS estimates ranging from $1.18 to $1.22. For the next fiscal year, analysts expect that the firm will report earnings of $1.32 per share, with EPS estimates ranging from $1.25 to $1.36. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million during the quarter, compared to analyst estimates of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same quarter last year, the business posted $0.22 earnings per share.
A number of research analysts have recently weighed in on HOPE shares. ValuEngine upgraded Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. DA Davidson reiterated a “buy” rating and issued a $21.00 price target on shares of Hope Bancorp in a research report on Monday, September 18th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $18.50 price target on shares of Hope Bancorp in a research report on Thursday, October 26th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a research report on Thursday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.58.
Shares of Hope Bancorp (NASDAQ:HOPE) traded down $0.12 during trading on Friday, hitting $18.39. The stock had a trading volume of 248,173 shares, compared to its average volume of 458,552. The stock has a market capitalization of $2,577.18, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.58 and a beta of 1.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. Hope Bancorp has a 52-week low of $17.14 and a 52-week high of $19.53.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Monday, October 30th. Hope Bancorp’s payout ratio is currently 43.33%.
In other news, EVP David Lee Song sold 3,000 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total transaction of $57,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jason K. Kim sold 6,000 shares of Hope Bancorp stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $18.97, for a total transaction of $113,820.00. Following the sale, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at approximately $1,341,729.13. The disclosure for this sale can be found here. In the last three months, insiders sold 121,981 shares of company stock valued at $2,303,614. 5.20% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of HOPE. Zions Bancorporation purchased a new position in Hope Bancorp during the third quarter valued at approximately $102,000. First Interstate Bank increased its holdings in Hope Bancorp by 254.3% during the second quarter. First Interstate Bank now owns 6,395 shares of the financial services provider’s stock valued at $119,000 after buying an additional 4,590 shares during the period. Riverhead Capital Management LLC increased its holdings in Hope Bancorp by 100.4% during the second quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock valued at $191,000 after buying an additional 5,121 shares during the period. Bank of Montreal Can increased its holdings in Hope Bancorp by 1.2% during the second quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock valued at $191,000 after buying an additional 122 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in Hope Bancorp by 0.5% during the second quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock valued at $192,000 after buying an additional 55 shares during the period. 80.58% of the stock is owned by hedge funds and other institutional investors.
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Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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