Hope Bancorp, Inc. (NASDAQ:HOPE) – Analysts at Wedbush upped their FY2017 earnings estimates for Hope Bancorp in a report released on Tuesday. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings of $1.22 per share for the year, up from their previous forecast of $1.18. Wedbush also issued estimates for Hope Bancorp’s Q1 2018 earnings at $0.30 EPS, Q2 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.32 EPS and Q4 2018 earnings at $0.33 EPS.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million for the quarter, compared to the consensus estimate of $137.93 million. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. During the same period last year, the firm earned $0.22 EPS.
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Other equities analysts have also recently issued reports about the stock. DA Davidson reiterated a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a research note on Monday, September 18th. ValuEngine upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, July 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $18.50 target price on shares of Hope Bancorp in a research note on Thursday. Finally, FIG Partners cut shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $20.00 to $17.00 in a research note on Friday, September 15th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.58.
Shares of Hope Bancorp (NASDAQ HOPE) opened at 18.92 on Friday. Hope Bancorp has a 12 month low of $15.10 and a 12 month high of $22.99. The stock’s 50 day moving average is $17.16 and its 200 day moving average is $17.81. The company has a market capitalization of $2.56 billion, a P/E ratio of 17.28 and a beta of 1.41.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, October 30th. Hope Bancorp’s dividend payout ratio is presently 43.33%.
In other Hope Bancorp news, Director Donald Byun sold 101,026 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $16.45, for a total transaction of $1,661,877.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason K. Kim sold 2,750 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the transaction, the executive vice president now owns 70,729 shares of the company’s stock, valued at $1,251,903.30. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
Large investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in shares of Hope Bancorp by 49,191.5% in the first quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock valued at $302,299,000 after buying an additional 15,737,358 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Hope Bancorp by 295.1% in the second quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock valued at $72,381,000 after buying an additional 2,898,811 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Hope Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock valued at $227,477,000 after buying an additional 608,014 shares during the last quarter. Phocas Financial Corp. acquired a new stake in shares of Hope Bancorp in the second quarter valued at about $10,205,000. Finally, State Street Corp raised its position in shares of Hope Bancorp by 9.4% in the first quarter. State Street Corp now owns 4,768,202 shares of the financial services provider’s stock valued at $91,409,000 after buying an additional 411,326 shares during the last quarter. Institutional investors own 79.37% of the company’s stock.
Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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