Equities Analysts Offer Predictions for Hope Bancorp, Inc.’s FY2024 Earnings (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPE) – Investment analysts at Wedbush issued their FY2024 EPS estimates for Hope Bancorp in a research report issued to clients and investors on Tuesday, April 30th. Wedbush analyst D. Chiaverini anticipates that the financial services provider will earn $1.10 per share for the year. Wedbush has a “Neutral” rating and a $11.00 price objective on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $1.05 per share.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The firm had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. During the same period in the previous year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their target price on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Wednesday. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Tuesday. Finally, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.83.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.84 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average price is $10.87 and its two-hundred day moving average price is $10.75. The company has a market cap of $1.31 billion, a PE ratio of 10.69 and a beta of 1.15. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.17%. Hope Bancorp’s payout ratio is currently 56.00%.

Institutional Trading of Hope Bancorp

Several institutional investors have recently added to or reduced their stakes in HOPE. GSA Capital Partners LLP bought a new position in Hope Bancorp during the 1st quarter worth $915,000. BNP Paribas Financial Markets grew its stake in shares of Hope Bancorp by 18.9% in the first quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock valued at $2,325,000 after acquiring an additional 32,056 shares in the last quarter. Drive Wealth Management LLC bought a new position in Hope Bancorp during the first quarter worth about $116,000. Denali Advisors LLC raised its stake in Hope Bancorp by 5.0% in the 1st quarter. Denali Advisors LLC now owns 297,700 shares of the financial services provider’s stock worth $3,427,000 after purchasing an additional 14,200 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Hope Bancorp by 14.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 40,595 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 5,184 shares during the period. 84.00% of the stock is currently owned by institutional investors.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.