Equities research analysts expect Hope Bancorp, Inc. (NASDAQ:HOPE) to announce earnings per share (EPS) of $0.32 for the current quarter, Zacks reports. Three analysts have provided estimates for Hope Bancorp’s earnings, with estimates ranging from $0.24 to $0.35. Hope Bancorp reported earnings of $0.21 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 52.4%. The business is scheduled to announce its next earnings results after the market closes on Tuesday, April 27th.
According to Zacks, analysts expect that Hope Bancorp will report full year earnings of $1.38 per share for the current financial year, with EPS estimates ranging from $1.19 to $1.55. For the next financial year, analysts forecast that the business will report earnings of $1.49 per share, with EPS estimates ranging from $1.30 to $1.75. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 25th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). The company had revenue of $132.17 million for the quarter, compared to analyst estimates of $135.25 million. Hope Bancorp had a return on equity of 6.21% and a net margin of 18.62%. During the same quarter last year, the company earned $0.34 EPS.
Separately, Zacks Investment Research upgraded shares of Hope Bancorp from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, February 9th.
Hope Bancorp stock traded down $0.20 during trading hours on Thursday, reaching $14.92. 465,480 shares of the company’s stock traded hands, compared to its average volume of 814,972. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.97. Hope Bancorp has a fifty-two week low of $7.03 and a fifty-two week high of $16.61. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 14.63 and a beta of 1.66. The firm’s 50 day moving average is $15.32 and its 200-day moving average is $11.73.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 19th. Shareholders of record on Friday, February 5th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, February 4th. This represents a $0.56 dividend on an annualized basis and a yield of 3.75%. Hope Bancorp’s payout ratio is presently 41.48%.
Institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in shares of Hope Bancorp by 2.0% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 50,605 shares of the financial services provider’s stock valued at $762,000 after acquiring an additional 1,000 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Hope Bancorp in the 1st quarter valued at approximately $334,000. Norges Bank acquired a new stake in shares of Hope Bancorp in the 4th quarter valued at approximately $17,451,000. UBS Asset Management Americas Inc. raised its position in shares of Hope Bancorp by 15.7% in the 4th quarter. UBS Asset Management Americas Inc. now owns 185,495 shares of the financial services provider’s stock valued at $2,024,000 after acquiring an additional 25,128 shares during the period. Finally, Truist Financial Corp raised its position in shares of Hope Bancorp by 3.8% in the 4th quarter. Truist Financial Corp now owns 90,168 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 3,282 shares during the period. Institutional investors own 82.74% of the company’s stock.
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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