Hope Bancorp, Inc. (NASDAQ:HOPE) to Post FY2024 Earnings of $0.87 Per Share, DA Davidson Forecasts

Hope Bancorp, Inc. (NASDAQ:HOPE) – Analysts at DA Davidson issued their FY2024 earnings per share (EPS) estimates for Hope Bancorp in a note issued to investors on Wednesday, May 1st. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.87 per share for the year. DA Davidson currently has a “Buy” rating and a $12.50 target price on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $0.98 per share. DA Davidson also issued estimates for Hope Bancorp’s FY2025 earnings at $1.35 EPS.

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 company had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year.

A number of other equities research analysts also recently weighed in on HOPE. Keefe, Bruyette & Woods decreased their price target on shares of 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 upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, Wedbush dropped their price target on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Hope Bancorp has an average rating of “Hold” and a consensus target price of $11.83.

Hope Bancorp Price Performance

Shares of HOPE stock opened at $10.84 on Friday. The company has a market capitalization of $1.31 billion, a P/E ratio of 10.84 and a beta of 1.15. The company has a current ratio of 1.00, a quick ratio of 1.05 and a debt-to-equity ratio of 0.43. Hope Bancorp has a 12 month low of $7.42 and a 12 month high of $12.51. The stock has a 50 day moving average of $10.87 and a two-hundred day moving average of $10.77.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.17%. Hope Bancorp’s dividend payout ratio is 56.00%.

Institutional Trading of Hope Bancorp

Hedge funds have recently modified their holdings of the company. CWM LLC grew its position in Hope Bancorp by 39.1% during the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 2,513 shares during the last quarter. Drive Wealth Management LLC acquired a new position in Hope Bancorp in the first quarter worth $116,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Hope Bancorp by 8.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,033 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Hope Bancorp in the third quarter valued at $132,000. Finally, PNC Financial Services Group Inc. lifted its position in Hope Bancorp by 46.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider’s stock worth $192,000 after buying an additional 5,034 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.