Equities Analysts Issue Forecasts for Hope Bancorp, Inc.’s Q2 2022 Earnings (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) – Investment analysts at Wedbush reduced their Q2 2022 EPS estimates for Hope Bancorp in a research report issued to clients and investors on Tuesday, April 19th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will earn $0.40 per share for the quarter, down from their previous estimate of $0.43. Wedbush also issued estimates for Hope Bancorp’s Q1 2023 earnings at $0.44 EPS, Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.53 EPS and Q4 2023 earnings at $0.53 EPS.

A number of other research firms have also recently weighed in on HOPE. StockNews.com cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. Zacks Investment Research raised shares of Hope Bancorp from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Monday, January 31st.

Shares of HOPE stock opened at $16.10 on Wednesday. The stock’s 50-day moving average is $16.32 and its 200 day moving average is $15.63. Hope Bancorp has a 1-year low of $12.48 and a 1-year high of $17.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market cap of $1.93 billion, a P/E ratio of 9.70 and a beta of 1.32.

Hope Bancorp (NASDAQ:HOPE – Get Rating) last released its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.11. Hope Bancorp had a net margin of 33.53% and a return on equity of 9.85%. The firm had revenue of $146.36 million for the quarter, compared to the consensus estimate of $144.13 million. During the same period last year, the firm earned $0.35 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in the business. Connable Office Inc. grew its position in Hope Bancorp by 4.7% during the 3rd quarter. Connable Office Inc. now owns 14,976 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 676 shares during the last quarter. NorthCrest Asset Manangement LLC grew its position in Hope Bancorp by 1.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 54,640 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 800 shares during the last quarter. Metropolitan Life Insurance Co NY grew its position in Hope Bancorp by 2.9% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 30,582 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 870 shares during the last quarter. Shell Asset Management Co. lifted its position in Hope Bancorp by 2.9% during the 4th quarter. Shell Asset Management Co. now owns 42,497 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 1,183 shares during the period. Finally, Comerica Bank lifted its position in Hope Bancorp by 0.7% during the 3rd quarter. Comerica Bank now owns 176,785 shares of the financial services provider’s stock worth $2,622,000 after acquiring an additional 1,199 shares during the period. 83.94% of the stock is currently owned by institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 17th. Investors of record on Thursday, February 3rd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, February 2nd. Hope Bancorp’s dividend payout ratio is currently 33.74%.

About Hope Bancorp (Get Rating)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

Featured Articles