Hope Bancorp, Inc. (NASDAQ:HOPE) – Analysts at Piper Sandler raised their Q2 2021 earnings estimates for Hope Bancorp in a research report issued on Monday, May 3rd. Piper Sandler analyst M. Clark now expects that the financial services provider will post earnings per share of $0.40 for the quarter, up from their prior forecast of $0.36. Piper Sandler also issued estimates for Hope Bancorp’s Q3 2021 earnings at $0.42 EPS, Q4 2021 earnings at $0.42 EPS, FY2021 earnings at $1.60 EPS, Q1 2022 earnings at $0.40 EPS, Q2 2022 earnings at $0.40 EPS, Q3 2022 earnings at $0.41 EPS, Q4 2022 earnings at $0.41 EPS and FY2022 earnings at $1.62 EPS.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, April 26th. The financial services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.04. Hope Bancorp had a return on equity of 6.21% and a net margin of 18.62%. During the same period in the previous year, the business posted $0.21 earnings per share.
NASDAQ HOPE opened at $15.53 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.25. Hope Bancorp has a 52 week low of $7.03 and a 52 week high of $16.61. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 15.23 and a beta of 1.66. The company has a fifty day moving average of $15.35 and a two-hundred day moving average of $12.16.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 21st. Stockholders of record on Friday, May 7th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, May 6th. This represents a $0.56 annualized dividend and a dividend yield of 3.61%. Hope Bancorp’s payout ratio is 41.48%.
A number of institutional investors and hedge funds have recently bought and sold shares of HOPE. Norges Bank bought a new position in Hope Bancorp in the 4th quarter valued at $17,451,000. SummerHaven Investment Management LLC purchased a new position in Hope Bancorp in the 4th quarter worth about $524,000. BlackRock Inc. lifted its holdings in Hope Bancorp by 2.6% during the 4th quarter. BlackRock Inc. now owns 18,177,756 shares of the financial services provider’s stock valued at $198,320,000 after buying an additional 465,061 shares in the last quarter. Pzena Investment Management LLC boosted its position in Hope Bancorp by 10.6% in the 4th quarter. Pzena Investment Management LLC now owns 3,813,833 shares of the financial services provider’s stock valued at $41,609,000 after buying an additional 365,631 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Hope Bancorp by 36.5% in the 4th quarter. Nuveen Asset Management LLC now owns 718,534 shares of the financial services provider’s stock worth $7,839,000 after acquiring an additional 192,135 shares in the last quarter. Institutional investors own 82.74% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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