Hope Bancorp Inc (HOPE) Expected to Post Q1 2019 Earnings of $0.41 Per Share
Hope Bancorp Inc (NASDAQ:HOPE) – Stock analysts at FIG Partners raised their Q1 2019 earnings per share estimates for Hope Bancorp in a research report issued to clients and investors on Wednesday, January 23rd. FIG Partners analyst T. Coffey now anticipates that the financial services provider will post earnings per share of $0.41 for the quarter, up from their previous estimate of $0.36. FIG Partners also issued estimates for Hope Bancorp’s Q2 2019 earnings at $0.43 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.43 EPS, FY2019 earnings at $1.69 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.44 EPS, Q4 2020 earnings at $0.45 EPS and FY2020 earnings at $1.74 EPS.
Several other research firms have also recently commented on HOPE. DA Davidson lowered their target price on shares of Hope Bancorp to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 18th. Sandler O’Neill set a $16.00 target price on shares of Hope Bancorp and gave the stock a “hold” rating in a research note on Wednesday, October 17th. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 17th. TheStreet cut shares of Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Finally, ValuEngine cut shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $17.25.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Hope Bancorp had a return on equity of 9.92% and a net margin of 26.69%. The firm had revenue of $133.51 million during the quarter, compared to the consensus estimate of $136.14 million. During the same period in the previous year, the firm posted $0.32 EPS.
Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new stake in Hope Bancorp in the 3rd quarter worth approximately $178,000. Bank of Montreal Can grew its stake in Hope Bancorp by 28.7% in the 4th quarter. Bank of Montreal Can now owns 16,373 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 3,649 shares during the period. Gator Capital Management LLC grew its stake in Hope Bancorp by 40.0% in the 3rd quarter. Gator Capital Management LLC now owns 21,000 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 6,000 shares during the period. Fisher Asset Management LLC grew its stake in Hope Bancorp by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 31,136 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 2,000 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Hope Bancorp by 106.2% during the 3rd quarter. AQR Capital Management LLC now owns 26,546 shares of the financial services provider’s stock valued at $429,000 after buying an additional 13,673 shares during the period. 88.03% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be paid a $0.14 dividend. The ex-dividend date is Thursday, January 31st. This represents a $0.56 annualized dividend and a yield of 3.82%. Hope Bancorp’s payout ratio is currently 38.89%.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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