Hope Bancorp Inc (NASDAQ:HOPE) – Investment analysts at FIG Partners lifted their FY2019 earnings estimates for Hope Bancorp in a report released on Wednesday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings per share of $1.50 for the year, up from their previous forecast of $1.41. FIG Partners currently has a “Market Perform” rating and a $17.00 price objective on the stock.
Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. The firm had revenue of $139.51 million for the quarter, compared to the consensus estimate of $137.93 million. During the same quarter in the previous year, the company earned $0.22 earnings per share.
Hope Bancorp (HOPE) traded up $0.03 on Friday, reaching $18.10. 540,800 shares of the company’s stock were exchanged, compared to its average volume of 620,267. Hope Bancorp has a 1 year low of $17.14 and a 1 year 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 firm has a market capitalization of $2,448.45, a P/E ratio of 15.08, a P/E/G ratio of 1.33 and a beta of 1.39.
In related news, EVP Jason K. Kim sold 6,000 shares of Hope Bancorp stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $18.97, for a total value of $113,820.00. Following the completion of the transaction, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at $1,341,729.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jason K. Kim sold 3,669 shares of Hope Bancorp stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $18.25, for a total value of $66,959.25. Following the completion of the transaction, the executive vice president now directly owns 67,060 shares of the company’s stock, valued at $1,223,845. The disclosure for this sale can be found here. Insiders sold a total of 121,981 shares of company stock worth $2,303,614 in the last 90 days. 5.20% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its holdings in Hope Bancorp by 4.4% during the 3rd quarter. California Public Employees Retirement System now owns 400,906 shares of the financial services provider’s stock worth $7,100,000 after purchasing an additional 16,776 shares during the last quarter. Zions Bancorporation bought a new stake in Hope Bancorp during the 3rd quarter worth about $102,000. Maltese Capital Management LLC raised its holdings in Hope Bancorp by 12.6% during the 3rd quarter. Maltese Capital Management LLC now owns 152,000 shares of the financial services provider’s stock worth $2,692,000 after purchasing an additional 17,000 shares during the last quarter. NWQ Investment Management Company LLC raised its holdings in Hope Bancorp by 11.0% during the 3rd quarter. NWQ Investment Management Company LLC now owns 1,677,664 shares of the financial services provider’s stock worth $29,711,000 after purchasing an additional 165,755 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in Hope Bancorp during the 3rd quarter worth about $192,000. 80.56% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/05/hope-bancorp-inc-to-post-fy2019-earnings-of-1-50-per-share-fig-partners-forecasts-hope.html.
About Hope Bancorp
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.
Receive News & Ratings for Hope Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.