Wedbush Issues Pessimistic Outlook for Hope Bancorp Earnings

Hope Bancorp, Inc. (NASDAQ:HOPE) – Equities researchers at Wedbush lowered their FY2025 EPS estimates for Hope Bancorp in a research note issued to investors on Monday, October 28th. Wedbush analyst D. Chiaverini now forecasts that the financial services provider will post earnings per share of $1.10 for the year, down from their previous estimate of $1.35. The consensus estimate for Hope Bancorp’s current full-year earnings is $0.85 per share.

HOPE has been the subject of several other reports. Keefe, Bruyette & Woods upped their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday.

Hope Bancorp Stock Down 0.2 %

NASDAQ HOPE opened at $12.36 on Thursday. The business has a fifty day moving average price of $12.58 and a two-hundred day moving average price of $11.62. The stock has a market capitalization of $1.49 billion, a PE ratio of 14.71 and a beta of 1.13. Hope Bancorp has a fifty-two week low of $8.76 and a fifty-two week high of $13.59. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.95.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. The company had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the previous year, the business posted $0.25 EPS.

Hedge Funds Weigh In On Hope Bancorp

Hedge funds have recently modified their holdings of the business. nVerses Capital LLC bought a new position in Hope Bancorp during the 3rd quarter worth $48,000. SageView Advisory Group LLC acquired a new stake in shares of Hope Bancorp in the first quarter valued at about $49,000. Fifth Third Bancorp increased its stake in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after buying an additional 3,163 shares during the period. Choreo LLC bought a new position in shares of Hope Bancorp during the second quarter worth about $108,000. Finally, AE Wealth Management LLC acquired a new position in shares of Hope Bancorp in the second quarter worth approximately $112,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the transaction, the executive vice president now directly owns 25,952 shares in the company, valued at approximately $321,804.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now directly owns 109,991 shares in the company, valued at $1,397,985.61. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas Stenger sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00. Following the completion of the transaction, the executive vice president now owns 25,952 shares of the company’s stock, valued at approximately $321,804.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,831 shares of company stock worth $323,657 in the last 90 days. Insiders own 5.29% of the company’s stock.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Thursday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is 66.67%.

Hope Bancorp Company Profile

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.