Hope Bancorp Inc (HOPE) Expected to Post Quarterly Sales of $140.28 Million

Brokerages forecast that Hope Bancorp Inc (NASDAQ:HOPE) will report sales of $140.28 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Hope Bancorp’s earnings. The lowest sales estimate is $138.60 million and the highest is $142.10 million. Hope Bancorp reported sales of $132.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.9%. The firm is expected to issue its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Hope Bancorp will report full year sales of $140.28 million for the current year, with estimates ranging from $569.70 million to $581.50 million. For the next financial year, analysts expect that the business will report sales of $605.43 million per share, with estimates ranging from $593.40 million to $616.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The firm had revenue of $142.84 million for the quarter, compared to the consensus estimate of $139.26 million. Hope Bancorp had a net margin of 21.96% and a return on equity of 8.71%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS.

HOPE has been the topic of a number of analyst reports. ValuEngine raised shares of Hope Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.50 price objective on shares of Hope Bancorp in a report on Thursday, October 26th. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Raymond James Financial reaffirmed a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $22.00 price objective on shares of Hope Bancorp in a report on Tuesday, January 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.92.

Hope Bancorp (NASDAQ:HOPE) opened at $17.90 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 1.07. The stock has a market cap of $2,370.10, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.11 and a beta of 1.38. Hope Bancorp has a fifty-two week low of $17.14 and a fifty-two week high of $19.86.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 19th. Investors of record on Monday, February 5th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Friday, February 2nd. Hope Bancorp’s dividend payout ratio (DPR) is currently 50.49%.

In related news, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total value of $57,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Koh sold 10,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $17.95, for a total transaction of $179,500.00. The disclosure for this sale can be found here. Insiders sold a total of 60,833 shares of company stock worth $1,156,600 over the last three months. 5.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of HOPE. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock worth $151,931,000 after buying an additional 960,796 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Hope Bancorp by 24.6% in the 4th quarter. Pzena Investment Management LLC now owns 3,026,113 shares of the financial services provider’s stock worth $55,227,000 after buying an additional 596,701 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hope Bancorp by 14.8% in the 3rd quarter. Principal Financial Group Inc. now owns 4,457,274 shares of the financial services provider’s stock worth $78,939,000 after buying an additional 576,268 shares during the last quarter. Phocas Financial Corp. purchased a new position in shares of Hope Bancorp in the 2nd quarter worth about $10,205,000. Finally, LSV Asset Management boosted its holdings in shares of Hope Bancorp by 52.3% in the 4th quarter. LSV Asset Management now owns 1,487,977 shares of the financial services provider’s stock worth $27,155,000 after buying an additional 510,674 shares during the last quarter. 80.71% of the stock is currently owned by institutional investors.

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Hope Bancorp Company Profile

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

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Earnings History and Estimates for Hope Bancorp (NASDAQ:HOPE)

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