Wall Street analysts expect Hope Bancorp Inc (NASDAQ:HOPE) to post $128.10 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Hope Bancorp’s earnings. The highest sales estimate is $132.50 million and the lowest is $119.00 million. Hope Bancorp reported sales of $129.51 million during the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The company is scheduled to announce its next quarterly earnings results on Tuesday, July 21st.
On average, analysts expect that Hope Bancorp will report full year sales of $527.33 million for the current financial year, with estimates ranging from $496.00 million to $543.90 million. For the next fiscal year, analysts forecast that the company will post sales of $506.38 million, with estimates ranging from $474.00 million to $529.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Hope Bancorp had a net margin of 21.13% and a return on equity of 7.63%. The company had revenue of $132.56 million for the quarter, compared to analysts’ expectations of $122.82 million. During the same period in the prior year, the firm earned $0.34 earnings per share.
In related news, Director Steven Koh sold 135,171 shares of Hope Bancorp stock in a transaction on Friday, June 5th. The shares were sold at an average price of $10.64, for a total transaction of $1,438,219.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 277,283 shares of company stock worth $2,819,506 in the last 90 days. Company insiders own 5.59% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new position in Hope Bancorp in the 4th quarter worth $32,000. Advisor Group Holdings Inc. acquired a new position in Hope Bancorp in the 1st quarter worth $25,000. Quantbot Technologies LP acquired a new position in Hope Bancorp in the 4th quarter worth $46,000. Westside Investment Management Inc. acquired a new position in Hope Bancorp in the 1st quarter worth $28,000. Finally, SG Americas Securities LLC acquired a new position in Hope Bancorp in the 4th quarter worth $140,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.
Shares of NASDAQ HOPE traded down $0.38 during trading on Friday, hitting $8.50. 1,742,024 shares of the company traded hands, compared to its average volume of 1,041,573. Hope Bancorp has a 1 year low of $7.06 and a 1 year high of $15.51. The company has a 50-day moving average price of $9.24 and a 200-day moving average price of $11.37. The firm has a market capitalization of $1.09 billion, a P/E ratio of 6.91 and a beta of 1.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.51.
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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