Analysts expect Hope Bancorp, Inc. (NASDAQ: HOPE) to post quarterly sales of $143.43 million
Wall Street brokerages expect Hope Bancorp, Inc. (NASDAQ: HOPE) to report sales of $143.43 million for the current quarter, Zacks reports. Three analysts have released earnings estimates for Hope Bancorp. The highest sales estimate is $147.00 million and the lowest is $139.10 million. Hope Bancorp posted sales of $131.38 million in the same quarter last year, suggesting a positive year-over-year growth rate of 9.2%. The company is expected to release its next quarterly results on Tuesday, April 26.
According to Zacks, analysts expect Hope Bancorp to report annual revenue of $592.03 million for the current fiscal year, with estimates ranging from $572.20 million to $611.00 million. of dollars. For the next fiscal year, analysts expect the company to post sales of $642.27 million, with estimates ranging from $615.00 to $677.00 million. Zacks sales calculations are an average average based on a survey of research analysts who track Hope Bancorp.
Hope Bancorp Inc (NASDAQ: HOPE) last released its quarterly results on Monday, January 24. The financial services provider reported earnings per share of $0.43 for the quarter, beating consensus analyst estimates of $0.41 by $0.02. Hope Bancorp had a net margin of 33.53% and a return on equity of 9.85%. The company posted revenue of $146.42 million for the quarter, versus analyst estimates of $141.90 million. During the same period last year, the company earned earnings per share of $0.23. The company’s revenue increased 10.8% year over year.
A number of research analysts have weighed in on HOPE shares recently. DA Davidson moved shares of Hope Bancorp from a ‘neutral’ rating to a ‘buy’ rating and raised his price target for the company from $17.00 to $18.00 in a Monday research report November 15. Zacks Investment Research upgraded shares of Hope Bancorp from a “hold” rating to a “strong-buy” rating and set a price target of $19.00 for the company in a Monday, January 31 report.
HOPE opened at $17.08 on Friday. The company has a debt ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50-day moving average is $15.90 and its 200-day moving average is $14.85. Hope Bancorp has a fifty-two week low of $12.20 and a fifty-two week high of $17.68. The company has a market capitalization of $2.05 billion, a P/E ratio of 10.29 and a beta of 1.37.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17. Investors of record on Thursday, February 3 received a dividend of $0.14 per share. The ex-dividend date was Wednesday, February 2. This represents a dividend of $0.56 on an annualized basis and a yield of 3.28%. Hope Bancorp’s dividend payout ratio (DPR) is currently 33.74%.
A number of hedge funds and other institutional investors have recently bought and sold shares of HOPE. Connable Office Inc. increased its stake in shares of Hope Bancorp by 4.7% in the third quarter. Connable Office Inc. now owns 14,976 shares of the financial services provider worth $216,000 after buying an additional 676 shares in the last quarter. Metropolitan Life Insurance Co NY increased its stake in shares of Hope Bancorp by 2.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 30,582 shares of the financial services provider worth $442,000 after buying an additional 870 shares in the last quarter. Shell Asset Management Co. increased its stake in shares of Hope Bancorp by 2.9% in the fourth quarter. Shell Asset Management Co. now owns 42,497 shares of the financial services provider worth $625,000 after buying 1,183 more shares last quarter. Comerica Bank increased its stake in shares of Hope Bancorp by 0.7% in the third quarter. Comerica Bank now owns 176,785 shares of the financial services provider worth $2,622,000 after buying an additional 1,199 shares last quarter. Finally, the Swiss National Bank increased its stake in shares of Hope Bancorp by 0.5% in the third quarter. The Swiss National Bank now owns 272,957 shares of the financial services provider worth $3,941,000 after buying an additional 1,300 shares last quarter. Institutional investors and hedge funds hold 83.94% of the company’s shares.
Hope Bancorp Company Profile
Hope Bancorp, Inc is a bank holding company that provides financial services through its subsidiary, Bank of Hope. The company offers basic business banking products for small and medium-sized businesses and individuals. Its products and services include certificates of deposit, online banking, bill payment, mobile banking, credit cards and mortgages.
Get a Free Copy of Zacks’ Research Report on Hope Bancorp (HOPE)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Hope Bancorp right now?
Before you consider Hope Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Hope Bancorp was not on the list.
Although Hope Bancorp currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here