Zacks: Analysts Anticipate Hope Bancorp, Inc. (NASDAQ:HOPE) Will Post Quarterly Sales of $146.53 Million

Equities research analysts predict that Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) will report $146.53 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Hope Bancorp’s earnings, with the highest sales estimate coming in at $150.30 million and the lowest estimate coming in at $142.30 million. Hope Bancorp posted sales of $137.65 million in the same quarter last year, which suggests a positive year over year growth rate of 6.5%. The business is scheduled to announce its next quarterly 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 year, with estimates ranging from $582.30 million to $618.50 million. For the next fiscal year, analysts expect that the firm will report sales of $671.43 million, with estimates ranging from $636.80 million to $691.50 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Hope Bancorp.

Hope Bancorp (NASDAQ:HOPEGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. Hope Bancorp had a net margin of 35.68% and a return on equity of 10.68%. The firm had revenue of $146.36 million for the quarter, compared to the consensus estimate of $144.13 million. During the same period in the prior year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.

A number of brokerages have commented on HOPE. DA Davidson downgraded shares of Hope Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $16.00 in a research report on Wednesday. StockNews.com raised shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Zacks Investment Research downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd.

Shares of NASDAQ:HOPE traded up $0.16 during trading hours on Friday, reaching $13.91. The stock had a trading volume of 848,657 shares, compared to its average volume of 902,957. Hope Bancorp has a 1 year low of $12.48 and a 1 year high of $17.68. The firm’s 50 day moving average is $15.37 and its 200-day moving average is $15.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.98 and a current ratio of 0.99. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 7.69 and a beta of 1.30.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Thursday, April 28th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Wednesday, April 27th. Hope Bancorp’s dividend payout ratio (DPR) is 30.94%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its position in shares of 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 buying an additional 1,782 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Hope Bancorp in the 3rd quarter valued at $49,000. Advisor Group Holdings Inc. grew its position 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 last quarter. Meeder Asset Management Inc. acquired a new stake in Hope Bancorp during the 1st quarter worth $75,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Hope Bancorp during the 1st quarter worth $140,000. 85.15% of the stock is currently owned by hedge funds and other institutional investors.

About Hope Bancorp (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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