Hope Bancorp Inc (HOPE) to Post FY2019 Earnings of $1.47 Per Share, Wedbush Forecasts

Hope Bancorp Inc (NASDAQ:HOPE) – Stock analysts at Wedbush issued their FY2019 earnings per share estimates for shares of Hope Bancorp in a research note issued on Thursday. Wedbush analyst D. Chiaverini forecasts that the financial services provider will post earnings of $1.47 per share for the year.

A number of other brokerages have also issued reports on HOPE. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.50 target price on shares of Hope Bancorp in a research report on Tuesday, October 3rd. ValuEngine raised Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Tuesday, December 26th. Raymond James Financial reissued a “market perform” rating on shares of Hope Bancorp in a research report on Thursday, November 2nd. Finally, DA Davidson reissued a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a research report on Monday, September 18th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $19.58.

Hope Bancorp (NASDAQ:HOPE) traded up $0.03 during trading hours on Friday, hitting $18.10. The stock had a trading volume of 540,800 shares, compared to its average volume of 620,267. Hope Bancorp has a fifty-two week low of $17.14 and a fifty-two week high of $19.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $2,448.45, a PE ratio of 15.08, a PEG ratio of 1.33 and a beta of 1.39.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. The business had revenue of $139.51 million for the quarter, compared to analysts’ expectations of $137.93 million. During the same quarter in the previous year, the business posted $0.22 EPS.

Several hedge funds have recently bought and sold shares of the stock. Zions Bancorporation bought a new stake in Hope Bancorp in the 3rd quarter valued at $102,000. Commonwealth Equity Services Inc bought a new stake in Hope Bancorp in the 3rd quarter valued at $183,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Hope Bancorp in the 3rd quarter valued at $187,000. Riverhead Capital Management LLC boosted its stake in Hope Bancorp by 100.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 5,121 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in Hope Bancorp in the 3rd quarter valued at $192,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total transaction of $57,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven Koh sold 47,833 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total value of $919,350.26. The disclosure for this sale can be found here. Insiders have sold a total of 121,981 shares of company stock worth $2,303,614 in the last ninety days. Insiders own 5.20% of the company’s stock.

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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.

Earnings History and Estimates for Hope Bancorp (NASDAQ:HOPE)

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