Q2 2024 Earnings Forecast for Hope Bancorp, Inc. (NASDAQ:HOPE) Issued By Wedbush

Hope Bancorp, Inc. (NASDAQ:HOPE) – Investment analysts at Wedbush dropped their Q2 2024 earnings per share (EPS) estimates for shares of Hope Bancorp in a report released on Tuesday, April 30th. Wedbush analyst D. Chiaverini now anticipates that the financial services provider will post earnings per share of $0.22 for the quarter, down from their previous estimate of $0.24. Wedbush has a “Neutral” rating and a $11.00 price objective on the stock. The consensus estimate for Hope Bancorp’s current full-year earnings is $1.09 per share. Wedbush also issued estimates for Hope Bancorp’s Q3 2024 earnings at $0.28 EPS, Q4 2024 earnings at $0.37 EPS, Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.37 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.37 EPS and FY2025 earnings at $1.45 EPS.

A number of other equities research analysts have also recently commented on HOPE. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Tuesday. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Finally, Keefe, Bruyette & Woods dropped their target price on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.83.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $10.25 on Wednesday. Hope Bancorp has a 52 week low of $7.42 and a 52 week high of $12.51. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.24 billion, a PE ratio of 10.25 and a beta of 1.13. The stock’s 50-day moving average price is $10.90 and its 200-day moving average price is $10.75.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The business had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. During the same quarter last year, the business earned $0.33 earnings per share. Hope Bancorp’s revenue was down 14.9% on a year-over-year basis.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.46%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp’s payout ratio is 56.00%.

Institutional Investors Weigh In On Hope Bancorp

Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its stake in Hope Bancorp by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock worth $10,223,000 after purchasing an additional 123,041 shares in the last quarter. AQR Capital Management LLC lifted its stake in Hope Bancorp by 70.5% in the 3rd quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after purchasing an additional 315,935 shares in the last quarter. Boston Partners lifted its stake in Hope Bancorp by 32.5% in the 3rd quarter. Boston Partners now owns 1,216,170 shares of the financial services provider’s stock worth $10,742,000 after purchasing an additional 298,349 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in Hope Bancorp in the 3rd quarter worth approximately $627,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Hope Bancorp by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,776 shares of the financial services provider’s stock worth $15,300,000 after purchasing an additional 145,721 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Company Profile

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.