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.

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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.

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Earnings history and estimates for Hope Bancorp (NASDAQ:HOPE)

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