Hope Bancorp (HOPE) Scheduled to Post Earnings on Monday

Hope Bancorp (NASDAQ:HOPE) is scheduled to be releasing its earnings data before the market opens on Monday, April 29th. Analysts expect Hope Bancorp to post earnings of $0.27 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The company had revenue of $135.20 million for the quarter, compared to analyst estimates of $138.47 million. Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. During the same quarter in the prior year, the business posted $0.43 EPS. On average, analysts expect Hope Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $10.72 on Monday. The firm has a 50-day moving average of $10.97 and a 200-day moving average of $10.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $1.29 billion, a PE ratio of 9.57 and a beta of 1.13. Hope Bancorp has a 52-week low of $7.42 and a 52-week high of $12.51.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date was Thursday, February 8th. Hope Bancorp’s dividend payout ratio is presently 50.00%.

Institutional Trading of Hope Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Hope Bancorp by 0.6% in the 1st quarter. BlackRock Inc. now owns 17,720,919 shares of the financial services provider’s stock worth $284,954,000 after purchasing an additional 105,803 shares in the last quarter. Vanguard Group Inc. raised its stake in Hope Bancorp by 0.9% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hope Bancorp by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,527,939 shares of the financial services provider’s stock valued at $93,565,000 after buying an additional 72,404 shares during the period. State Street Corp increased its holdings in Hope Bancorp by 7.2% in the 1st quarter. State Street Corp now owns 7,013,612 shares of the financial services provider’s stock valued at $112,779,000 after buying an additional 469,232 shares during the period. Finally, Macquarie Group Ltd. increased its holdings in Hope Bancorp by 0.3% in the 1st quarter. Macquarie Group Ltd. now owns 5,144,292 shares of the financial services provider’s stock valued at $50,517,000 after buying an additional 15,937 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

HOPE has been the subject of a number of research reports. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Wedbush cut their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.33.

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.