Analysts predict that Hope Bancorp, Inc. (NASDAQ:HOPE) will post sales of $142.20 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Hope Bancorp’s earnings. The highest sales estimate is $143.00 million and the lowest is $141.00 million. Hope Bancorp reported sales of $132.17 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The firm is expected to issue its next earnings report after the market closes on Monday, January 24th.
On average, analysts expect that Hope Bancorp will report full-year sales of $552.13 million for the current financial year, with estimates ranging from $550.90 million to $553.00 million. For the next year, analysts expect that the firm will report sales of $573.27 million, with estimates ranging from $568.30 million to $578.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Sunday, October 24th. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $140.91 million during the quarter, compared to analyst estimates of $136.92 million. Hope Bancorp had a net margin of 29.96% and a return on equity of 8.77%. During the same quarter last year, the firm posted $0.25 earnings per share.
NASDAQ:HOPE traded up $0.27 during mid-day trading on Tuesday, hitting $16.79. The stock had a trading volume of 33,949 shares, compared to its average volume of 743,617. The stock has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $14.29. The company has a market capitalization of $2.02 billion, a PE ratio of 11.32 and a beta of 1.49. Hope Bancorp has a twelve month low of $11.05 and a twelve month high of $16.62. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 18th. Shareholders of record on Thursday, November 4th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, November 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 3.34%. Hope Bancorp’s payout ratio is currently 38.36%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its position in shares of Hope Bancorp by 48.9% during the second quarter. Toronto Dominion Bank now owns 2,792 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 917 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Hope Bancorp during the third quarter worth approximately $41,000. Point72 Hong Kong Ltd purchased a new position in Hope Bancorp in the 3rd quarter valued at $49,000. Amundi Pioneer Asset Management Inc. purchased a new position in Hope Bancorp in the 1st quarter valued at $140,000. Finally, SG Americas Securities LLC grew its position in Hope Bancorp by 67.5% in the 3rd quarter. SG Americas Securities LLC now owns 11,971 shares of the financial services provider’s stock valued at $173,000 after buying an additional 4,826 shares during the last quarter. Institutional investors and hedge funds own 83.52% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. The firm offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.
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