Brokerages Expect Hope Bancorp, Inc. (HOPE) to Announce $0.30 Earnings Per Share
Analysts expect Hope Bancorp, Inc. (NASDAQ:HOPE) to announce $0.30 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Hope Bancorp’s earnings, with estimates ranging from $0.30 to $0.31. Hope Bancorp posted earnings of $0.32 per share in the same quarter last year, which suggests a negative year over year growth rate of 6.3%. The company is scheduled to report its next earnings report on Tuesday, October 24th.
On average, analysts expect that Hope Bancorp will report full year earnings of $1.18 per share for the current year, with EPS estimates ranging from $1.17 to $1.21. For the next fiscal year, analysts anticipate that the company will report earnings of $1.32 per share, with EPS estimates ranging from $1.25 to $1.36. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. During the same quarter in the prior year, the business posted $0.22 earnings per share.
A number of research analysts have issued reports on the company. FIG Partners downgraded Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, July 12th. ValuEngine downgraded Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Hope Bancorp in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.00 price objective on shares of Hope Bancorp in a research note on Thursday, September 7th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.42.
Shares of Hope Bancorp (NASDAQ HOPE) opened at 18.03 on Wednesday. The firm’s 50-day moving average price is $17.08 and its 200 day moving average price is $17.80. The firm has a market cap of $2.44 billion, a P/E ratio of 16.47 and a beta of 1.41. Hope Bancorp has a one year low of $15.10 and a one year high of $22.99.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, October 30th. This represents a $0.52 dividend on an annualized basis and a yield of 2.88%. Hope Bancorp’s dividend payout ratio (DPR) is 47.71%.
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In related news, EVP Jason K. Kim sold 2,750 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the sale, the executive vice president now owns 70,729 shares of the company’s stock, valued at approximately $1,251,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Donald Byun sold 101,026 shares of the stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of HOPE. BlackRock Inc. raised its holdings in shares of Hope Bancorp by 49,191.5% in the 1st quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock valued at $302,299,000 after acquiring an additional 15,737,358 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Hope Bancorp by 295.1% in the 2nd quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock valued at $72,381,000 after acquiring an additional 2,898,811 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hope Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock valued at $227,477,000 after acquiring an additional 608,014 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Hope Bancorp in the 2nd quarter valued at about $10,205,000. Finally, State Street Corp raised its holdings in shares of Hope Bancorp by 9.4% in the 1st quarter. State Street Corp now owns 4,768,202 shares of the financial services provider’s stock valued at $91,409,000 after acquiring an additional 411,326 shares in the last quarter. 79.37% of the stock is currently owned by institutional investors and hedge funds.
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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