Equities research analysts forecast that Hope Bancorp Inc (NASDAQ:HOPE) will report sales of $133.30 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Hope Bancorp’s earnings, with the lowest sales estimate coming in at $130.10 million and the highest estimate coming in at $135.00 million. Hope Bancorp posted sales of $138.09 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.5%. The business is expected to report its next earnings report after the market closes on Tuesday, July 16th.
On average, analysts expect that Hope Bancorp will report full year sales of $534.52 million for the current year, with estimates ranging from $524.00 million to $540.50 million. For the next financial year, analysts expect that the company will report sales of $553.22 million, with estimates ranging from $530.10 million to $564.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. The company had revenue of $131.03 million for the quarter, compared to the consensus estimate of $132.40 million. Hope Bancorp had a net margin of 24.99% and a return on equity of 9.48%. During the same period in the prior year, the firm posted $0.38 EPS.
Several analysts have recently commented on HOPE shares. Zacks Investment Research cut shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. ValuEngine upgraded shares of Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.50.
A number of institutional investors have recently added to or reduced their stakes in HOPE. Oregon Public Employees Retirement Fund grew its position in shares of Hope Bancorp by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 48,181 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 800 shares during the last quarter. Ridgewood Investments LLC lifted its holdings in Hope Bancorp by 36.4% in the second quarter. Ridgewood Investments LLC now owns 36,482 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 9,728 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Hope Bancorp by 7.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,427 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 860 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Hope Bancorp in the 1st quarter valued at about $140,000. Finally, First Trust Advisors LP lifted its holdings in Hope Bancorp by 9.3% in the 1st quarter. First Trust Advisors LP now owns 453,576 shares of the financial services provider’s stock valued at $5,933,000 after acquiring an additional 38,549 shares during the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.
NASDAQ:HOPE traded up $0.23 during trading hours on Friday, reaching $13.99. 617,562 shares of the company’s stock were exchanged, compared to its average volume of 693,440. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.27 and a beta of 1.48. The firm’s 50-day moving average is $13.49. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. Hope Bancorp has a 1-year low of $11.37 and a 1-year high of $17.92.
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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