Hope Bancorp Inc (NASDAQ:HOPE) Expected to Post Quarterly Sales of $133.30 Million

Equities analysts forecast that Hope Bancorp Inc (NASDAQ:HOPE) will report sales of $133.30 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Hope Bancorp’s earnings. The lowest sales estimate is $130.10 million and the highest is $135.00 million. Hope Bancorp reported sales of $138.09 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.5%. The company is scheduled to announce its next earnings report on Tuesday, July 16th.

On average, analysts expect that Hope Bancorp will report full-year sales of $534.66 million for the current year, with estimates ranging from $524.00 million to $540.50 million. For the next year, analysts forecast that the company will report sales of $554.64 million, with estimates ranging from $530.10 million to $564.50 million. Zacks’ sales averages are an average based on a survey of analysts that follow Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $131.03 million for the quarter, compared to analyst estimates of $132.40 million. Hope Bancorp had a return on equity of 9.48% and a net margin of 24.99%. During the same period last year, the firm posted $0.38 earnings per share.

Several research firms recently weighed in on HOPE. Zacks Investment Research lowered Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine raised Hope Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Hope Bancorp has an average rating of “Hold” and an average target price of $16.50.

Several hedge funds have recently made changes to their positions in the company. Piedmont Investment Advisors Inc. boosted its stake in shares of Hope Bancorp by 2.4% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 29,151 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 691 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Hope Bancorp by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 47,381 shares of the financial services provider’s stock valued at $620,000 after purchasing an additional 856 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Hope Bancorp by 58.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,402 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 887 shares in the last quarter. Neuburgh Advisers LLC boosted its stake in shares of Hope Bancorp by 7.0% during the fourth quarter. Neuburgh Advisers LLC now owns 20,768 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 1,364 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Hope Bancorp by 47.4% during the first quarter. Versant Capital Management Inc now owns 4,494 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 1,445 shares in the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:HOPE traded up $0.05 during trading hours on Thursday, hitting $13.14. The company’s stock had a trading volume of 343,502 shares, compared to its average volume of 720,527. The stock has a fifty day simple moving average of $13.53. The stock has a market capitalization of $1.67 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.19 and a beta of 1.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp has a twelve month low of $11.37 and a twelve month high of $18.80.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services 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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Earnings History and Estimates for Hope Bancorp (NASDAQ:HOPE)

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