Brokerages expect that Hope Bancorp Inc (NASDAQ:HOPE) will post $128.10 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Hope Bancorp’s earnings, with estimates ranging from $119.00 million to $132.50 million. Hope Bancorp reported sales of $129.51 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is expected to announce its next earnings report on Tuesday, July 21st.
According to Zacks, 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 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’ sales averages are a mean average based on a survey of sell-side research firms that cover 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 consensus estimate of $0.24 by ($0.03). The company had revenue of $132.56 million during 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 firm posted $0.34 earnings per share.
In other news, Director Steven Koh sold 5,760 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $9.61, for a total transaction of $55,353.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 277,283 shares of company stock valued at $2,819,506. Company insiders own 5.59% of the company’s stock.
Several large investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Hope Bancorp by 5.3% during the first quarter. State Street Corp now owns 5,069,602 shares of the financial services provider’s stock worth $41,672,000 after buying an additional 256,038 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Hope Bancorp by 283.9% in the first quarter. Royal Bank of Canada now owns 49,859 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 36,873 shares during the last quarter. Guggenheim Capital LLC grew its stake in shares of Hope Bancorp by 40.4% in the first quarter. Guggenheim Capital LLC now owns 20,676 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 5,948 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Hope Bancorp in the first quarter worth $3,778,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Hope Bancorp in the first quarter worth $133,000. Institutional investors own 84.65% of the company’s stock.
HOPE traded down $0.38 during trading on Friday, hitting $8.50. 1,742,024 shares of the stock traded hands, compared to its average volume of 1,041,573. Hope Bancorp has a twelve month low of $7.06 and a twelve month high of $15.51. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 6.91 and a beta of 1.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day moving average price of $9.24 and a 200 day moving average price of $11.37.
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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