Equities analysts expect Hope Bancorp Inc (NASDAQ:HOPE) to announce sales of $140.86 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Hope Bancorp’s earnings, with the lowest sales estimate coming in at $140.00 million and the highest estimate coming in at $141.60 million. Hope Bancorp posted sales of $139.51 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The business is expected to announce its next earnings report on Tuesday, October 23rd.
According to Zacks, analysts expect that Hope Bancorp will report full-year sales of $559.66 million for the current fiscal year, with estimates ranging from $557.40 million to $561.80 million. For the next fiscal year, analysts anticipate that the business will report sales of $584.16 million per share, with estimates ranging from $569.70 million to $599.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). The business had revenue of $138.09 million for the quarter, compared to analyst estimates of $139.60 million. Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. During the same period last year, the company posted $0.30 earnings per share.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 8th. ValuEngine cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Monday, June 11th. DA Davidson cut shares of Hope Bancorp from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a report on Wednesday, May 30th. Finally, Wedbush reissued a “neutral” rating and set a $18.00 target price (down from $19.00) on shares of Hope Bancorp in a report on Monday, July 16th. Eight investment analysts have rated the stock with a hold rating, Hope Bancorp presently has a consensus rating of “Hold” and an average target price of $19.42.
Shares of NASDAQ:HOPE traded down $0.02 on Friday, reaching $17.79. 6,662 shares of the company’s stock were exchanged, compared to its average volume of 672,731. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.20 and a beta of 1.39. Hope Bancorp has a fifty-two week low of $16.74 and a fifty-two week high of $19.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, July 27th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.15%. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, July 26th. Hope Bancorp’s dividend payout ratio is 45.90%.
Several institutional investors have recently added to or reduced their stakes in HOPE. Rhumbline Advisers grew its position in shares of Hope Bancorp by 0.9% during the first quarter. Rhumbline Advisers now owns 340,372 shares of the financial services provider’s stock worth $6,191,000 after acquiring an additional 3,124 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Hope Bancorp by 45.8% during the first quarter. SG Americas Securities LLC now owns 31,910 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 10,017 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in shares of Hope Bancorp by 62.8% during the first quarter. Xact Kapitalforvaltning AB now owns 21,769 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 8,400 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of Hope Bancorp by 1,515.0% during the first quarter. Summit Trail Advisors LLC now owns 260,122 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 244,015 shares during the last quarter. Finally, Kempen Capital Management N.V. grew its position in shares of Hope Bancorp by 5.1% during the first quarter. Kempen Capital Management N.V. now owns 256,536 shares of the financial services provider’s stock worth $4,666,000 after acquiring an additional 12,415 shares during the last quarter. Institutional investors and hedge funds own 90.36% of the company’s stock.
Hope Bancorp Company Profile
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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