Analysts predict that Hope Bancorp, Inc. (NASDAQ:HOPE) will post $138.87 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Hope Bancorp’s earnings. The lowest sales estimate is $136.30 million and the highest is $140.30 million. Hope Bancorp reported sales of $135.15 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The business is scheduled to issue its next earnings report on Tuesday, October 19th.
According to Zacks, analysts expect that Hope Bancorp will report full-year sales of $545.50 million for the current fiscal year, with estimates ranging from $540.50 million to $549.00 million. For the next fiscal year, analysts expect that the company will report sales of $556.37 million, with estimates ranging from $547.40 million to $569.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, July 19th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Hope Bancorp had a return on equity of 7.59% and a net margin of 25.44%. The company had revenue of $137.65 million for the quarter, compared to the consensus estimate of $135.16 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. Hope Bancorp’s revenue for the quarter was up 13.7% on a year-over-year basis.
In other news, EVP Thomas Stenger sold 3,694 shares of the business’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $13.93, for a total transaction of $51,457.42. Following the sale, the executive vice president now owns 2,755 shares of the company’s stock, valued at approximately $38,377.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.29% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Toronto Dominion Bank boosted its position in Hope Bancorp by 48.9% during the 2nd quarter. Toronto Dominion Bank now owns 2,792 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 917 shares during the period. Eaton Vance Management acquired a new stake in Hope Bancorp during the first quarter worth about $59,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Hope Bancorp during the first quarter worth about $140,000. O Shaughnessy Asset Management LLC raised its stake in Hope Bancorp by 23.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,484 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,781 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Hope Bancorp by 1,957.6% in the first quarter. Captrust Financial Advisors now owns 10,082 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 9,592 shares during the period. Institutional investors own 83.93% of the company’s stock.
Shares of NASDAQ:HOPE traded up $0.05 during midday trading on Thursday, hitting $13.34. The company had a trading volume of 883,707 shares, compared to its average volume of 784,272. Hope Bancorp has a twelve month low of $7.03 and a twelve month high of $16.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 10.55 and a beta of 1.66. The business’s 50-day simple moving average is $13.54 and its 200-day simple moving average is $14.54.
The business also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Friday, July 30th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, July 29th. Hope Bancorp’s dividend payout ratio (DPR) is presently 62.22%.
Hope Bancorp Company Profile
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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