Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) – Research analysts at DA Davidson raised their Q2 2022 earnings estimates for shares of Hope Bancorp in a research note issued to investors on Thursday, May 19th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will earn $0.40 per share for the quarter, up from their previous estimate of $0.39. DA Davidson has a “Neutral” rating and a $16.00 price target on the stock. DA Davidson also issued estimates for Hope Bancorp’s FY2023 earnings at $1.69 EPS.
Hope Bancorp (NASDAQ:HOPE – Get Rating) last posted its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. Hope Bancorp had a return on equity of 10.68% and a net margin of 35.68%. The business had revenue of $146.36 million during the quarter, compared to the consensus estimate of $144.13 million. During the same period last year, the company earned $0.35 earnings per share. Hope Bancorp’s quarterly revenue was up 11.4% on a year-over-year basis.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. StockNews.com upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday.
Shares of Hope Bancorp stock opened at $13.75 on Friday. The stock has a market cap of $1.66 billion, a P/E ratio of 7.60 and a beta of 1.30. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. Hope Bancorp has a 12-month low of $12.48 and a 12-month high of $17.68. The business’s 50 day moving average is $15.43 and its 200-day moving average is $15.61.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Thursday, April 28th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, April 27th. This represents a $0.56 annualized dividend and a yield of 4.07%. Hope Bancorp’s dividend payout ratio is 30.94%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC increased its position in Hope Bancorp by 152.6% during the 1st quarter. CWM LLC now owns 2,950 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 1,782 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Hope Bancorp in the 3rd quarter valued at $49,000. Advisor Group Holdings Inc. lifted 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 acquiring an additional 1,313 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Hope Bancorp during the 1st quarter valued at $75,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Hope Bancorp in the 1st quarter worth about $140,000. Institutional investors and hedge funds own 85.15% of the company’s stock.
About Hope Bancorp (Get Rating)
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. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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