Q3 2024 EPS Estimates for Hope Bancorp, Inc. Boosted by Analyst (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPE) – Research analysts at DA Davidson raised their Q3 2024 earnings per share estimates for Hope Bancorp in a research report issued on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings of $0.23 per share for the quarter, up from their previous estimate of $0.22. The consensus estimate for Hope Bancorp’s current full-year earnings is $0.89 per share. DA Davidson also issued estimates for Hope Bancorp’s FY2024 earnings at $0.81 EPS and FY2025 earnings at $1.33 EPS.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The business had revenue of $116.90 million for the quarter, compared to the consensus estimate of $121.27 million. During the same period last year, the company earned $0.32 EPS. The firm’s revenue was down 20.9% compared to the same quarter last year.

HOPE has been the subject of several other reports. Keefe, Bruyette & Woods raised their target price on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $12.55 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. Hope Bancorp has a 52 week low of $8.15 and a 52 week high of $13.59. The firm has a market cap of $1.51 billion, a PE ratio of 12.55 and a beta of 1.13. The firm’s fifty day moving average is $12.39 and its 200-day moving average is $11.39.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of HOPE. SageView Advisory Group LLC acquired a new stake in shares of Hope Bancorp in the 1st quarter valued at about $49,000. Fifth Third Bancorp grew its stake in Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 3,163 shares during the period. CWM LLC increased its holdings in shares of Hope Bancorp by 39.1% during the first quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 2,513 shares in the last quarter. Choreo LLC bought a new stake in shares of Hope Bancorp during the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC acquired a new position in shares of Hope Bancorp during the second quarter worth approximately $112,000. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the sale, the director now owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $12.40, for a total transaction of $39,680.00. Following the sale, the executive vice president now directly owns 25,952 shares of the company’s stock, valued at approximately $321,804.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,831 shares of company stock valued at $323,657 over the last quarter. Insiders own 5.29% of the company’s stock.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

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.