$128.10 Million in Sales Expected for Hope Bancorp Inc (NASDAQ:HOPE) This Quarter

Wall Street brokerages predict that Hope Bancorp Inc (NASDAQ:HOPE) will announce sales of $128.10 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Hope Bancorp’s earnings, with estimates ranging from $119.00 million to $132.50 million. Hope Bancorp posted sales of $129.51 million in the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The business is scheduled to report 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 expect that the company will report sales of $506.38 million, with estimates ranging from $474.00 million to $529.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). The business had revenue of $132.56 million for the quarter, compared to the consensus estimate of $122.82 million. Hope Bancorp had a net margin of 21.13% and a return on equity of 7.63%. During the same quarter last year, the business posted $0.34 EPS.

HOPE has been the subject of a number of research analyst reports. ValuEngine downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, TheStreet downgraded Hope Bancorp from a “b-” rating to a “c+” rating in a research report on Tuesday, March 3rd.

Shares of HOPE traded down $0.38 during trading hours on Friday, reaching $8.50. 1,742,024 shares of the company’s stock traded hands, compared to its average volume of 1,041,573. The stock has a market cap of $1.09 billion, a PE ratio of 6.91 and a beta of 1.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.51. The firm’s 50 day simple moving average is $9.24 and its 200-day simple moving average is $11.37. Hope Bancorp has a 12 month low of $7.06 and a 12 month high of $15.51.

In related news, Director Steven Koh sold 55,439 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $9.12, for a total value of $505,603.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 277,283 shares of company stock valued at $2,819,506 in the last 90 days. 5.59% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. increased its stake in Hope Bancorp by 12.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,990,899 shares of the financial services provider’s stock worth $65,685,000 after purchasing an additional 884,003 shares during the period. State Street Corp increased its stake in Hope Bancorp by 5.3% in the 1st quarter. State Street Corp now owns 5,069,602 shares of the financial services provider’s stock worth $41,672,000 after purchasing an additional 256,038 shares during the period. LSV Asset Management increased its stake in Hope Bancorp by 0.8% in the 4th quarter. LSV Asset Management now owns 4,469,477 shares of the financial services provider’s stock worth $66,416,000 after purchasing an additional 34,809 shares during the period. Norges Bank purchased a new position in Hope Bancorp in the 4th quarter worth approximately $28,402,000. Finally, Geode Capital Management LLC increased its stake in Hope Bancorp by 7.3% in the 1st quarter. Geode Capital Management LLC now owns 1,885,962 shares of the financial services provider’s stock worth $15,502,000 after purchasing an additional 128,441 shares during the period. Institutional investors own 84.65% of the company’s stock.

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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