FY2024 EPS Forecast for Hope Bancorp Decreased by Analyst

Hope Bancorp, Inc. (NASDAQ:HOPE) – DA Davidson lowered their FY2024 earnings per share (EPS) estimates for shares of Hope Bancorp in a research note issued on Tuesday, October 29th. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $0.80 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.

HOPE has been the subject of a number of other research reports. Keefe, Bruyette & Woods lifted their price target on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $12.39 on Wednesday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 14.75 and a beta of 1.13. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $12.58 and its two-hundred day moving average price is $11.60. Hope Bancorp has a 1 year low of $8.51 and a 1 year high of $13.59.

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

Hope Bancorp Dividend Announcement

The company 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 $0.14 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.52%. Hope Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Insider Buying and Selling at Hope Bancorp

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

Institutional Trading of Hope Bancorp

Large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in Hope Bancorp during the third quarter worth about $48,000. SageView Advisory Group LLC acquired a new stake in shares of Hope Bancorp during the 1st quarter worth approximately $49,000. Fifth Third Bancorp increased its stake in Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 3,163 shares during the last quarter. Choreo LLC acquired a new position in Hope Bancorp during the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC bought a new stake in Hope Bancorp during the second quarter worth $112,000. 84.00% of the stock is owned by institutional investors and hedge funds.

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.