$0.33 EPS Expected for Hope Bancorp Inc (NASDAQ:HOPE) This Quarter

Brokerages predict that Hope Bancorp Inc (NASDAQ:HOPE) will post earnings of $0.33 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Hope Bancorp’s earnings. The lowest EPS estimate is $0.32 and the highest is $0.33. Hope Bancorp posted earnings of $0.36 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.3%. The business is expected to issue its next quarterly earnings report on Tuesday, October 15th.

According to Zacks, analysts expect that Hope Bancorp will report full-year earnings of $1.33 per share for the current year, with EPS estimates ranging from $1.31 to $1.34. For the next fiscal year, analysts anticipate that the company will post earnings of $1.33 per share, with EPS estimates ranging from $1.28 to $1.40. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The firm had revenue of $129.51 million for the quarter, compared to analysts’ expectations of $133.30 million. Hope Bancorp had a return on equity of 9.12% and a net margin of 23.98%. During the same quarter last year, the firm posted $0.36 earnings per share.

A number of research firms recently commented on HOPE. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, July 20th. ValuEngine upgraded Hope Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Hope Bancorp presently has an average rating of “Hold” and a consensus price target of $16.00.

In other news, Director Steven Koh sold 27,504 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $13.65, for a total transaction of $375,429.60. Following the sale, the director now owns 6,667 shares of the company’s stock, valued at $91,004.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Alex Ko sold 13,507 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $14.29, for a total value of $193,015.03. Following the sale, the chief financial officer now directly owns 5,888 shares in the company, valued at approximately $84,139.52. The disclosure for this sale can be found here. Insiders have sold 56,334 shares of company stock worth $777,968 in the last ninety days. Corporate insiders own 5.59% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. acquired a new stake in shares of Hope Bancorp during the second quarter worth about $37,000. Westside Investment Management Inc. acquired a new stake in shares of Hope Bancorp during the second quarter worth about $48,000. Martin Capital Partners LLC acquired a new stake in shares of Hope Bancorp during the first quarter worth about $101,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Hope Bancorp during the first quarter worth about $140,000. Finally, Magnus Financial Group LLC acquired a new stake in shares of Hope Bancorp during the first quarter worth about $160,000. 87.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of HOPE stock traded down $0.38 during trading hours on Friday, reaching $13.21. The company had a trading volume of 592,543 shares, compared to its average volume of 467,167. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a fifty day moving average of $14.02 and a 200-day moving average of $13.86. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 1.28 and a beta of 1.47. Hope Bancorp has a 12-month low of $11.37 and a 12-month high of $17.83.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Thursday, July 25th. Hope Bancorp’s dividend payout ratio is currently 38.89%.

Hope Bancorp Company Profile

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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