Hope Bancorp, Inc. (NASDAQ:HOPE) Forecasted to Post Q1 2024 Earnings of $0.26 Per Share

Hope Bancorp, Inc. (NASDAQ:HOPEFree Report) – Research analysts at Wedbush dropped their Q1 2024 earnings estimates for Hope Bancorp in a research report issued on Tuesday, January 30th. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings per share of $0.26 for the quarter, down from their previous estimate of $0.28. Wedbush currently has a “Neutral” rating and a $12.00 target price on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $1.17 per share. Wedbush also issued estimates for Hope Bancorp’s Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.27 EPS, Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.10 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $1.40 EPS.

Separately, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Hope Bancorp presently has a consensus rating of “Hold” and an average price target of $11.33.

Get Our Latest Report on Hope Bancorp

Hope Bancorp Trading Down 3.0 %

Shares of HOPE stock opened at $11.08 on Thursday. The firm has a fifty day moving average of $11.39 and a 200-day moving average of $10.14. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 9.89 and a beta of 1.19. Hope Bancorp has a 52-week low of $7.42 and a 52-week high of $13.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05.

Hope Bancorp (NASDAQ:HOPEGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $135.20 million for the quarter, compared to the consensus estimate of $138.47 million. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. During the same quarter in the prior year, the firm earned $0.43 earnings per share.

Institutional Trading of Hope Bancorp

Hedge funds have recently modified their holdings of the stock. Advisor Group Holdings Inc. increased its stake in shares of Hope Bancorp by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,313 shares during the period. Citigroup Inc. boosted its stake in Hope Bancorp by 4.3% in the first quarter. Citigroup Inc. now owns 118,438 shares of the financial services provider’s stock valued at $1,904,000 after acquiring an additional 4,897 shares during the last quarter. Natixis Advisors L.P. raised its position in shares of Hope Bancorp by 39.8% during the 1st quarter. Natixis Advisors L.P. now owns 19,861 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 5,651 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Hope Bancorp by 57.3% in the 1st quarter. Bank of Montreal Can now owns 70,698 shares of the financial services provider’s stock worth $1,184,000 after purchasing an additional 25,743 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Hope Bancorp by 70.6% in the first quarter. MetLife Investment Management LLC now owns 61,401 shares of the financial services provider’s stock valued at $987,000 after buying an additional 25,417 shares during the period. 83.62% of the stock is owned by institutional investors.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend is Thursday, February 8th. Hope Bancorp’s payout ratio is presently 50.00%.

Hope Bancorp Company Profile

(Get Free Report)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. Its loan products include commercial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, and other business-related financing needs; real estate loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, auto, credit card, and personal loans.

See Also

Earnings History and Estimates for Hope Bancorp (NASDAQ:HOPE)

Receive News & Ratings for Hope Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.