FY2024 EPS Estimates for Hope Bancorp Reduced by DA Davidson

Hope Bancorp, Inc. (NASDAQ:HOPE) – Equities researchers at DA Davidson lowered their FY2024 earnings per share estimates for Hope Bancorp in a research report issued on Tuesday, October 29th. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $0.80 per share for the year, down from their previous forecast of $0.81. The consensus estimate for Hope Bancorp’s current full-year earnings is $0.87 per share. DA Davidson also issued estimates for Hope Bancorp’s Q4 2024 earnings at $0.15 EPS and FY2025 earnings at $1.25 EPS.

Several other research firms have also recently weighed in on HOPE. StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Hope Bancorp Trading Down 0.5 %

Shares of HOPE opened at $12.47 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 14.01 and a beta of 1.13. Hope Bancorp has a 52-week low of $8.51 and a 52-week high of $13.59. The stock has a fifty day moving average price of $12.58 and a two-hundred day moving average price of $11.60.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. During the same quarter last year, the business earned $0.25 EPS.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th 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 4.49%. The ex-dividend date of this dividend is Thursday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is 62.92%.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of Hope Bancorp 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 completion of the sale, the director now owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the transaction, the director now owns 109,991 shares in the company, valued at approximately $1,397,985.61. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,831 shares of company stock worth $323,657 over the last ninety days. Company insiders own 5.29% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System raised its stake in shares of Hope Bancorp by 117.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock valued at $1,826,000 after purchasing an additional 85,709 shares during the period. GSA Capital Partners LLP acquired a new position in Hope Bancorp during the 1st quarter worth approximately $915,000. Assenagon Asset Management S.A. grew its stake in shares of Hope Bancorp by 232.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after acquiring an additional 1,632,384 shares in the last quarter. American Century Companies Inc. boosted its holdings in Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Hope Bancorp by 18.9% in the 1st quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock valued at $2,325,000 after buying an additional 32,056 shares during the last quarter. 84.00% of the stock is 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.