Q3 2024 Earnings Estimate for Hope Bancorp, Inc. (NASDAQ:HOPE) Issued By DA Davidson

Hope Bancorp, Inc. (NASDAQ:HOPE) – DA Davidson raised their Q3 2024 earnings per share (EPS) estimates for shares of Hope Bancorp in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst G. Tenner now anticipates that the financial services provider will earn $0.23 per share for the quarter, up from their prior forecast 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 has been the subject of several other reports. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods upped their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

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 current ratio of 0.96 and a quick ratio of 0.95. The business has a 50-day moving average of $12.39 and a 200-day moving average of $11.39. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.55 and a beta of 1.13. Hope Bancorp has a fifty-two week low of $8.15 and a fifty-two week high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $121.27 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was down 20.9% compared to the same quarter last year.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds have recently bought and sold shares of HOPE. Norges Bank bought a new position in shares of Hope Bancorp during the fourth quarter worth approximately $9,960,000. Hsbc Holdings PLC lifted its holdings in shares of Hope Bancorp by 455.8% during the fourth quarter. Hsbc Holdings PLC now owns 220,046 shares of the financial services provider’s stock worth $2,683,000 after buying an additional 180,458 shares in the last quarter. Rafferty Asset Management LLC lifted its holdings in shares of Hope Bancorp by 36.7% during the fourth quarter. Rafferty Asset Management LLC now owns 180,128 shares of the financial services provider’s stock worth $2,176,000 after buying an additional 48,323 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of Hope Bancorp in the fourth quarter valued at about $2,977,000. Finally, Vanguard Group Inc. grew its stake in shares of Hope Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock valued at $165,864,000 after acquiring an additional 115,826 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the sale, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the transaction, the director now directly owns 109,991 shares in the company, valued at $1,397,985.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jinho Doo sold 10,703 shares of the stock in a transaction dated 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 transaction, the director now directly owns 21,538 shares in the company, valued at $267,071.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,831 shares of company stock worth $323,657. Company 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 $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 annualized dividend and a yield of 4.46%. Hope Bancorp’s dividend payout ratio (DPR) 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.