FIG Partners Weighs in on Hope Bancorp Inc’s FY2018 Earnings (HOPE)

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.

Several other brokerages have also recently issued reports on HOPE. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.50 price objective on shares of Hope Bancorp in a report on Thursday, October 26th. ValuEngine cut Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, December 26th. Raymond James Financial reaffirmed a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $22.00 price objective on shares of Hope Bancorp in a report on Tuesday, January 9th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.92.

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.

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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.

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

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