DA Davidson Comments on Hope Bancorp Inc’s FY2018 Earnings (NASDAQ:HOPE)

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Hope Bancorp Inc (NASDAQ:HOPE) – Stock analysts at DA Davidson reduced their FY2018 earnings per share estimates for shares of Hope Bancorp in a research note issued on Wednesday, October 17th, Zacks Investment Research reports. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings of $1.46 per share for the year, down from their previous estimate of $1.47. DA Davidson has a “Neutral” rating and a $16.00 price objective on the stock. DA Davidson also issued estimates for Hope Bancorp’s Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.35 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $1.45 EPS.

A number of other research firms have also commented on HOPE. Sandler O’Neill set a $16.00 price target on Hope Bancorp and gave the company a “hold” rating in a research report on Wednesday, October 17th. ValuEngine lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. TheStreet lowered Hope Bancorp from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. Wedbush reiterated a “neutral” rating and issued a $18.00 price target (down previously from $19.00) on shares of Hope Bancorp in a research report on Monday, July 16th. Finally, Zacks Investment Research lowered Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Hope Bancorp presently has an average rating of “Hold” and an average target price of $18.20.

Shares of NASDAQ HOPE traded down $0.26 during trading on Friday, reaching $15.01. The company had a trading volume of 795,255 shares, compared to its average volume of 1,172,011. Hope Bancorp has a 12 month low of $13.45 and a 12 month high of $19.86. The firm has a market capitalization of $1.95 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.30 and a beta of 1.34. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.59.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Hope Bancorp had a return on equity of 9.81% and a net margin of 23.43%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $141.01 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new stake in shares of Hope Bancorp during the 3rd quarter valued at about $178,000. Hartford Investment Management Co. bought a new stake in shares of Hope Bancorp during the 2nd quarter valued at about $257,000. Summit Trail Advisors LLC boosted its position in shares of Hope Bancorp by 1,515.0% during the 1st quarter. Summit Trail Advisors LLC now owns 260,122 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 244,015 shares in the last quarter. Gator Capital Management LLC bought a new stake in shares of Hope Bancorp during the 2nd quarter valued at about $267,000. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Hope Bancorp by 62.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 21,769 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 8,400 shares in the last quarter. Institutional investors own 89.90% of the company’s stock.

In related news, Director Donald Byun sold 40,456 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total transaction of $721,735.04. Following the sale, the director now owns 35,170 shares in the company, valued at approximately $627,432.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David P. Malone bought 3,450 shares of the business’s stock in a transaction that occurred on Friday, October 19th. The shares were acquired at an average price of $14.58 per share, for a total transaction of $50,301.00. The disclosure for this purchase can be found here. Insiders own 5.06% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 26th were given a $0.14 dividend. The ex-dividend date was Thursday, October 25th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.73%. Hope Bancorp’s dividend payout ratio (DPR) is presently 45.90%.

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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