Analysts expect Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) to report $146.53 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Hope Bancorp’s earnings, with the lowest sales estimate coming in at $142.30 million and the highest estimate coming in at $150.30 million. Hope Bancorp posted sales of $137.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The firm is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Hope Bancorp will report full year sales of $602.27 million for the current fiscal year, with estimates ranging from $582.30 million to $618.50 million. For the next year, analysts expect that the business will post sales of $671.43 million, with estimates ranging from $636.80 million to $691.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE – Get Rating) last issued its quarterly earnings data on Monday, April 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $146.36 million during the quarter, compared to the consensus estimate of $144.13 million. Hope Bancorp had a return on equity of 10.68% and a net margin of 35.68%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS.
Shares of NASDAQ:HOPE traded down $0.20 during midday trading on Friday, reaching $13.75. 1,329,536 shares of the company’s stock were exchanged, compared to its average volume of 879,348. The firm’s 50 day simple moving average is $15.49 and its two-hundred day simple moving average is $15.62. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.99 and a quick ratio of 0.98. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 7.60 and a beta of 1.30. Hope Bancorp has a fifty-two week low of $12.48 and a fifty-two week high of $17.68.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, April 28th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Wednesday, April 27th. Hope Bancorp’s dividend payout ratio is currently 30.94%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in Hope Bancorp by 152.6% in the 1st quarter. CWM LLC now owns 2,950 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,782 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Hope Bancorp in the 3rd quarter valued at about $49,000. Advisor Group Holdings Inc. boosted its stake in shares of Hope Bancorp by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,313 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Hope Bancorp in the 1st quarter valued at about $75,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Hope Bancorp in the 1st quarter valued at about $140,000. 85.15% of the stock is owned by institutional investors.
Hope Bancorp Company Profile (Get Rating)
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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