Hope Bancorp Inc (NASDAQ:HOPE) – Research analysts at Piper Jaffray Companies lowered their Q3 2018 earnings estimates for Hope Bancorp in a report released on Wednesday, July 18th. Piper Jaffray Companies analyst M. Clark now forecasts that the financial services provider will post earnings per share of $0.37 for the quarter, down from their previous estimate of $0.38. Piper Jaffray Companies also issued estimates for Hope Bancorp’s Q4 2018 earnings at $0.37 EPS, Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.39 EPS, FY2019 earnings at $1.49 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.39 EPS and FY2020 earnings at $1.57 EPS.
HOPE has been the subject of a number of other research reports. ValuEngine cut Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. DA Davidson lowered their price target on Hope Bancorp from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, April 18th. Zacks Investment Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 20th. Finally, Wedbush reissued a “neutral” rating and set a $18.00 price target (down previously from $19.00) on shares of Hope Bancorp in a report on Monday. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.42.
Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Hope Bancorp had a return on equity of 9.64% and a net margin of 23.76%. The business had revenue of $138.09 million for the quarter, compared to analyst estimates of $139.60 million. During the same period last year, the firm posted $0.30 EPS.
Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. raised its holdings in shares of Hope Bancorp by 5.5% during the 4th quarter. Macquarie Group Ltd. now owns 1,972,130 shares of the financial services provider’s stock worth $35,991,000 after buying an additional 103,443 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in Hope Bancorp in the 4th quarter worth about $244,000. Sterling Capital Management LLC acquired a new position in Hope Bancorp in the 4th quarter worth about $1,063,000. Zeke Capital Advisors LLC acquired a new position in Hope Bancorp in the 4th quarter worth about $199,000. Finally, Geode Capital Management LLC increased its holdings in Hope Bancorp by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,165,510 shares of the financial services provider’s stock worth $21,270,000 after purchasing an additional 7,694 shares in the last quarter. 84.38% of the stock is owned by institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Stockholders of record on Friday, July 27th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, July 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.13. Hope Bancorp’s payout ratio is 42.62%.
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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