Hope Bancorp Inc (NASDAQ:HOPE) – Equities researchers at Wedbush cut their FY2020 EPS estimates for shares of Hope Bancorp in a research note issued to investors on Wednesday, March 27th, according to Zacks Investment Research. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings of $1.44 per share for the year, down from their prior forecast of $1.50.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Hope Bancorp had a net margin of 24.99% and a return on equity of 9.48%. The firm had revenue of $131.03 million for the quarter, compared to the consensus estimate of $132.40 million. During the same period in the prior year, the firm posted $0.38 earnings per share.
Shares of Hope Bancorp stock traded down $0.45 on Friday, reaching $13.56. The stock had a trading volume of 995,226 shares, compared to its average volume of 632,508. Hope Bancorp has a 1 year low of $11.37 and a 1 year high of $18.88. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 1.17 and a beta of 1.50. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.52.
Several hedge funds have recently bought and sold shares of HOPE. FMR LLC raised its stake in shares of Hope Bancorp by 0.8% during the third quarter. FMR LLC now owns 1,619,159 shares of the financial services provider’s stock worth $26,182,000 after acquiring an additional 12,439 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Hope Bancorp during the third quarter worth approximately $772,000. Shell Asset Management Co. purchased a new position in shares of Hope Bancorp during the third quarter worth approximately $725,000. Dimensional Fund Advisors LP raised its stake in shares of Hope Bancorp by 8.0% during the third quarter. Dimensional Fund Advisors LP now owns 9,953,027 shares of the financial services provider’s stock worth $160,940,000 after acquiring an additional 739,692 shares in the last quarter. Finally, United Services Automobile Association raised its stake in shares of Hope Bancorp by 293.0% during the third quarter. United Services Automobile Association now owns 78,129 shares of the financial services provider’s stock worth $1,263,000 after acquiring an additional 58,250 shares in the last quarter. 89.65% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Jason K. Kim sold 4,750 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $14.71, for a total value of $69,872.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peter Koh sold 6,000 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $14.92, for a total transaction of $89,520.00. Following the transaction, the executive vice president now directly owns 54,687 shares in the company, valued at $815,930.04. The disclosure for this sale can be found here. Company insiders own 5.06% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 26th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, April 25th. Hope Bancorp’s dividend payout ratio is currently 38.89%.
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services 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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