Hope Bancorp Inc (NASDAQ:HOPE) – FIG Partners boosted their FY2018 EPS estimates for shares of Hope Bancorp in a note issued to investors on Tuesday. FIG Partners analyst T. Coffey now expects that the financial services provider will post earnings of $1.59 per share for the year, up from their prior forecast of $1.50. FIG Partners also issued estimates for Hope Bancorp’s FY2019 earnings at $1.69 EPS.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $142.84 million during the quarter, compared to analysts’ expectations of $139.26 million. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. Hope Bancorp’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share.
Shares of Hope Bancorp (NASDAQ HOPE) traded up $0.09 during mid-day trading on Wednesday, reaching $17.75. The company had a trading volume of 69,751 shares, compared to its average volume of 513,304. The firm has a market capitalization of $2,401.27, a PE ratio of 14.41, a PEG ratio of 1.13 and a beta of 1.38. Hope Bancorp has a 52-week low of $17.14 and a 52-week high of $19.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 19th. Shareholders of record on Monday, February 5th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, February 2nd. Hope Bancorp’s payout ratio is 50.49%.
In other Hope Bancorp news, Director Steven Koh sold 47,833 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total transaction of $919,350.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Lee Song sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total value of $57,750.00. The disclosure for this sale can be found here. Insiders have sold 60,833 shares of company stock valued at $1,156,600 in the last three months. 5.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in HOPE. Teachers Advisors LLC grew its position in shares of Hope Bancorp by 6.1% in the second quarter. Teachers Advisors LLC now owns 242,579 shares of the financial services provider’s stock valued at $4,524,000 after purchasing an additional 13,968 shares during the period. Amalgamated Bank grew its position in shares of Hope Bancorp by 1.8% in the second quarter. Amalgamated Bank now owns 17,669 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 305 shares during the period. New York State Common Retirement Fund grew its position in shares of Hope Bancorp by 15.5% in the second quarter. New York State Common Retirement Fund now owns 182,688 shares of the financial services provider’s stock valued at $3,407,000 after purchasing an additional 24,548 shares during the period. Vanguard Group Inc. grew its position in shares of Hope Bancorp by 1.2% in the second quarter. Vanguard Group Inc. now owns 12,011,407 shares of the financial services provider’s stock valued at $224,013,000 after purchasing an additional 145,101 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Hope Bancorp by 2.1% in the second quarter. California Public Employees Retirement System now owns 384,130 shares of the financial services provider’s stock valued at $7,164,000 after purchasing an additional 8,000 shares during the period. 80.71% of the stock is owned by institutional investors.
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.
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