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

Hope Bancorp, Inc. (NASDAQ:HOPE) – Research analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Hope Bancorp in a research report issued on Wednesday, May 1st. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.23 per share for the quarter. DA Davidson has a “Buy” rating and a $12.50 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 posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The firm had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s quarterly revenue was down 14.9% compared to the same quarter last year.

A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Wednesday. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Wedbush cut their price target on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Hope Bancorp presently has an average rating of “Hold” and a consensus target price of $11.83.

Hope Bancorp Stock Performance

HOPE stock opened at $10.61 on Thursday. The business’s fifty day moving average is $10.88 and its 200-day moving average is $10.75. 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 company has a market cap of $1.28 billion, a P/E ratio of 10.61 and a beta of 1.15. Hope Bancorp has a twelve month low of $7.42 and a twelve month high of $12.51.

Institutional Trading of Hope Bancorp

Large investors have recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of Hope Bancorp by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock valued at $10,223,000 after acquiring an additional 123,041 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Hope Bancorp by 70.5% during the third quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after acquiring an additional 315,935 shares during the period. Boston Partners boosted its holdings in shares of Hope Bancorp by 32.5% during the third quarter. Boston Partners now owns 1,216,170 shares of the financial services provider’s stock worth $10,742,000 after acquiring an additional 298,349 shares during the period. Illinois Municipal Retirement Fund bought a new stake in shares of Hope Bancorp in the third quarter valued at approximately $627,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Hope Bancorp by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,776 shares of the financial services provider’s stock valued at $15,300,000 after buying an additional 145,721 shares during the period. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is currently 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.