Hope Bancorp, Inc. (NASDAQ:HOPE) Expected to Post Q2 2024 Earnings of $0.23 Per Share

Hope Bancorp, Inc. (NASDAQ:HOPE) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Hope Bancorp in a research note issued to investors on Wednesday, May 1st. DA Davidson analyst G. Tenner anticipates that the financial services provider will post earnings of $0.23 per share for the quarter. DA Davidson has a “Buy” rating and a $12.50 price target on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $1.05 per share.

Other analysts have also recently issued research reports about the company. Wedbush reduced their price target on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.83.

Hope Bancorp Price Performance

HOPE opened at $10.25 on Thursday. Hope Bancorp has a 1 year low of $7.42 and a 1 year high of $12.51. The stock has a fifty day moving average price of $10.90 and a 200 day moving average price of $10.75. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.25 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released 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). The business had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. Hope Bancorp’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS.

Hedge Funds Weigh In On Hope Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in Hope Bancorp by 39.1% in the 1st 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 during the period. Drive Wealth Management LLC bought a new position in shares of Hope Bancorp in the first quarter valued at about $116,000. QRG Capital Management Inc. acquired a new stake in shares of Hope Bancorp during the 3rd quarter worth about $132,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Hope Bancorp by 8.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,033 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Hope Bancorp by 46.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider’s stock valued at $192,000 after buying an additional 5,034 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Hope Bancorp Company Profile

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.