FY2018 EPS Estimates for Hope Bancorp Inc Reduced by Analyst (HOPE)

Hope Bancorp Inc (NASDAQ:HOPE) – Equities researchers at Piper Jaffray Companies reduced their FY2018 EPS estimates for shares of Hope Bancorp in a research report issued on Wednesday, October 17th. Piper Jaffray Companies analyst M. Clark now anticipates that the financial services provider will earn $1.46 per share for the year, down from their prior forecast of $1.47. Piper Jaffray Companies also issued estimates for Hope Bancorp’s Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.37 EPS, FY2019 earnings at $1.46 EPS, Q1 2020 earnings at $0.36 EPS, Q2 2020 earnings at $0.36 EPS, Q3 2020 earnings at $0.38 EPS and FY2020 earnings at $1.48 EPS.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $141.01 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year.

HOPE has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, September 19th. ValuEngine lowered shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday. Wedbush restated a “neutral” rating and issued a $18.00 target price (down previously from $19.00) on shares of Hope Bancorp in a report on Monday, July 16th. Sandler O’Neill set a $16.00 price objective on shares of Hope Bancorp and gave the company a “hold” rating in a research note on Wednesday. Finally, DA Davidson decreased their price objective on shares of Hope Bancorp to $16.00 and set a “neutral” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.25.

HOPE opened at $14.66 on Friday. The company has a current ratio of 0.96, a quick ratio of 1.03 and a debt-to-equity ratio of 0.15. Hope Bancorp has a fifty-two week low of $14.48 and a fifty-two week high of $19.86. The stock has a market capitalization of $1.93 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.01 and a beta of 1.37.

Institutional investors have recently added to or reduced their stakes in the company. Systematic Financial Management LP grew its position in shares of Hope Bancorp by 11.4% during the 2nd quarter. Systematic Financial Management LP now owns 730,813 shares of the financial services provider’s stock valued at $13,030,000 after acquiring an additional 74,574 shares during the period. First Trust Advisors LP grew its position in shares of Hope Bancorp by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 248,870 shares of the financial services provider’s stock valued at $4,437,000 after acquiring an additional 9,795 shares during the period. Hartford Investment Management Co. bought a new position in Hope Bancorp in the 2nd quarter worth approximately $257,000. BlackRock Inc. boosted its holdings in Hope Bancorp by 9.0% in the 2nd quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock worth $328,490,000 after buying an additional 1,527,125 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in Hope Bancorp by 11.7% in the 2nd quarter. Macquarie Group Ltd. now owns 2,450,766 shares of the financial services provider’s stock worth $43,697,000 after buying an additional 256,255 shares during the period. 89.99% of the stock is owned by hedge funds and other institutional investors.

In other Hope Bancorp news, EVP David Lee Song sold 5,000 shares of the stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total value of $88,750.00. Following the completion of the sale, the executive vice president now owns 4,023 shares in the company, valued at approximately $71,408.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Donald Byun sold 40,456 shares of the stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $17.84, for a total transaction of $721,735.04. Following the completion of the sale, the director now owns 35,170 shares of the company’s stock, valued at approximately $627,432.80. The disclosure for this sale can be found here. Company insiders own 5.06% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 26th will be paid a $0.14 dividend. The ex-dividend date is Thursday, October 25th. This represents a $0.56 annualized dividend and a yield of 3.82%. Hope Bancorp’s dividend payout ratio (DPR) is 45.90%.

About Hope Bancorp

Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.

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

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