FY2018 EPS Estimates for Hope Bancorp Inc Boosted by Analyst (HOPE)

Hope Bancorp Inc (NASDAQ:HOPE) – Wedbush increased their FY2018 earnings per share estimates for Hope Bancorp in a research note issued on Thursday, Zacks Investment Research reports. Wedbush analyst D. Chiaverini now expects that the financial services provider will post earnings of $1.48 per share for the year, up from their prior estimate of $1.25.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $139.51 million for the quarter, compared to the consensus estimate of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same period last year, the business posted $0.22 EPS.

HOPE has been the topic of several other reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $17.50 target price on shares of Hope Bancorp in a report on Tuesday, October 3rd. ValuEngine upgraded Hope Bancorp from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. DA Davidson reiterated a “buy” rating and set a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th. Finally, Raymond James Financial restated a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $19.92.

Shares of Hope Bancorp (NASDAQ HOPE) traded up $0.18 during trading hours on Monday, hitting $19.05. The company had a trading volume of 384,800 shares, compared to its average volume of 422,278. The stock has a market cap of $2,581.24, a P/E ratio of 15.88, a P/E/G ratio of 1.32 and a beta of 1.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. Hope Bancorp has a 1-year low of $17.14 and a 1-year high of $19.53.

In other Hope Bancorp news, Director Steven Koh sold 47,833 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total transaction of $919,350.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Jason K. Kim sold 6,000 shares of Hope Bancorp stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $18.97, for a total value of $113,820.00. Following the sale, the executive vice president now owns 70,729 shares in the company, valued at $1,341,729.13. The disclosure for this sale can be found here. Insiders have sold a total of 121,981 shares of company stock worth $2,303,614 over the last 90 days. 5.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of HOPE. Zions Bancorporation acquired a new position in shares of Hope Bancorp in the 3rd quarter worth approximately $102,000. Commonwealth Equity Services Inc acquired a new position in shares of Hope Bancorp in the 3rd quarter worth approximately $183,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Hope Bancorp in the 3rd quarter worth approximately $187,000. Riverhead Capital Management LLC grew its position in shares of Hope Bancorp by 100.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 5,121 shares in the last quarter. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Hope Bancorp in the 3rd quarter worth approximately $192,000. Institutional investors own 80.56% of the company’s stock.

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About Hope Bancorp

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

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Earnings History and Estimates for Hope Bancorp (NASDAQ:HOPE)

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