Hope Bancorp, Inc. (NASDAQ:HOPE) – Analysts at Wedbush reduced their FY2017 EPS estimates for shares of Hope Bancorp in a research report issued to clients and investors on Wednesday. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $1.24 per share for the year, down from their previous forecast of $1.26. Wedbush currently has a “Neutral” rating and a $20.00 price target on the stock. Wedbush also issued estimates for Hope Bancorp’s Q1 2018 earnings at $0.31 EPS, Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.35 EPS.
HOPE has been the topic of several other reports. FIG Partners upgraded shares of Hope Bancorp from a “market perform” rating to an “outperform” rating in a research report on Friday, May 19th. BidaskClub upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Hope Bancorp and gave the stock a “hold” rating in a research report on Tuesday, April 4th. Finally, Piper Jaffray Companies decreased their price objective on shares of Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 30th. Five equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $20.75.
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Shares of Hope Bancorp (NASDAQ HOPE) opened at 17.44 on Thursday. Hope Bancorp has a 12 month low of $15.00 and a 12 month high of $22.99. The stock has a 50 day moving average of $18.58 and a 200 day moving average of $19.49. The stock has a market cap of $2.36 billion, a PE ratio of 15.93 and a beta of 1.41.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.02. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. The business had revenue of $132.94 million during the quarter, compared to analysts’ expectations of $136.80 million.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in Hope Bancorp by 1.2% in the second quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock worth $191,000 after buying an additional 122 shares during the period. 1st Global Advisors Inc. raised its position in Hope Bancorp by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 10,429 shares of the financial services provider’s stock worth $200,000 after buying an additional 122 shares during the period. GW&K Investment Management LLC raised its position in Hope Bancorp by 15.2% in the first quarter. GW&K Investment Management LLC now owns 10,684 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,410 shares during the period. TFS Capital LLC purchased a new position in Hope Bancorp during the first quarter worth about $208,000. Finally, Hanson & Doremus Investment Management raised its position in Hope Bancorp by 0.7% in the second quarter. Hanson & Doremus Investment Management now owns 11,870 shares of the financial services provider’s stock worth $221,000 after buying an additional 85 shares during the period. Institutional investors own 78.23% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.98%. This is a positive change from Hope Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, July 27th. Hope Bancorp’s dividend payout ratio is 47.71%.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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