FY2024 Earnings Forecast for Hope Bancorp, Inc. Issued By DA Davidson (NASDAQ:HOPE)

Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) - Research analysts at DA Davidson issued their FY2024 earnings per share estimates for Hope Bancorp in a note issued to investors on Wednesday, May 1st. DA Davidson analyst G. Tenner expects that the financial services provider will earn $0.87 per share for the year. DA Davidson has a "Buy" rating and a $12.50 price objective on the stock. The consensus estimate for Hope Bancorp's current full-year earnings is $1.05 per share. DA Davidson also issued estimates for Hope Bancorp's FY2025 earnings at $1.35 EPS.

Other analysts also recently issued research reports about the stock. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, January 6th. Keefe, Bruyette & Woods reduced their target price on Hope Bancorp from $13.00 to $12.00 and set a "market perform" rating on the stock in a research note on Wednesday. Finally, Wedbush dropped their price target on Hope Bancorp from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.83.

Hope Bancorp Price Performance

Shares of HOPE stock traded up $0.23 during midday trading on Friday, reaching $10.84. 796,864 shares of the company traded hands, compared to its average volume of 684,164. The firm's 50 day simple moving average is $10.87 and its two-hundred day simple moving average is $10.75. The firm has a market cap of $1.31 billion, a PE ratio of 10.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.05. Hope Bancorp has a 1-year low of $7.42 and a 1-year high of $12.51.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The company had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. During the same quarter last year, the business earned $0.33 EPS. The firm's revenue for the quarter was down 14.9% on a year-over-year basis.

Institutional Trading of Hope Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Hope Bancorp by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider's stock worth $165,864,000 after purchasing an additional 115,826 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Hope Bancorp by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,844,319 shares of the financial services provider's stock valued at $22,279,000 after buying an additional 115,543 shares during the period. Boston Partners increased its stake in shares of Hope Bancorp by 32.5% during the 3rd quarter. Boston Partners now owns 1,216,170 shares of the financial services provider's stock valued at $10,742,000 after acquiring an additional 298,349 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Hope Bancorp by 11.9% during 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 acquiring an additional 123,041 shares during the period. Finally, Norges Bank acquired a new stake in shares of Hope Bancorp in the fourth quarter worth approximately $9,960,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.17%. Hope Bancorp's dividend payout ratio (DPR) is currently 56.00%.

About Hope Bancorp

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.