$140.38 Million in Sales Expected for Hope Bancorp Inc (HOPE) This Quarter
Wall Street analysts expect Hope Bancorp Inc (NASDAQ:HOPE) to post $140.38 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Hope Bancorp’s earnings, with the highest sales estimate coming in at $142.10 million and the lowest estimate coming in at $138.60 million. Hope Bancorp posted sales of $132.51 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The company is scheduled to report its next earnings report on Thursday, April 26th.
On average, analysts expect that Hope Bancorp will report full year sales of $140.38 million for the current year, with estimates ranging from $569.70 million to $581.50 million. For the next year, analysts forecast that the firm will post sales of $604.03 million per share, with estimates ranging from $593.40 million to $612.30 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The firm had revenue of $142.84 million during the quarter, compared to the consensus estimate of $139.26 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis.
In other Hope Bancorp news, EVP Jason K. Kim sold 10,518 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $18.83, for a total value of $198,053.94. Following the completion of the sale, the executive vice president now owns 42,964 shares of the company’s stock, valued at $809,012.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jason K. Kim sold 10,406 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $18.29, for a total value of $190,325.74. Following the completion of the sale, the executive vice president now directly owns 42,964 shares of the company’s stock, valued at approximately $785,811.56. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Comerica Bank lifted its holdings in Hope Bancorp by 2.5% in the third quarter. Comerica Bank now owns 310,404 shares of the financial services provider’s stock valued at $5,665,000 after acquiring an additional 7,519 shares during the period. California Public Employees Retirement System lifted its holdings in Hope Bancorp by 4.4% in the third quarter. California Public Employees Retirement System now owns 400,906 shares of the financial services provider’s stock valued at $7,100,000 after acquiring an additional 16,776 shares during the period. Pzena Investment Management LLC lifted its holdings in Hope Bancorp by 24.6% in the fourth quarter. Pzena Investment Management LLC now owns 3,026,113 shares of the financial services provider’s stock valued at $55,227,000 after acquiring an additional 596,701 shares during the period. Swiss National Bank lifted its holdings in Hope Bancorp by 2.3% in the fourth quarter. Swiss National Bank now owns 216,657 shares of the financial services provider’s stock valued at $3,954,000 after acquiring an additional 4,800 shares during the period. Finally, Maltese Capital Management LLC lifted its holdings in Hope Bancorp by 12.6% in the third quarter. Maltese Capital Management LLC now owns 152,000 shares of the financial services provider’s stock valued at $2,692,000 after acquiring an additional 17,000 shares during the period. 83.39% of the stock is owned by institutional investors.
Shares of Hope Bancorp (NASDAQ:HOPE) traded down $0.60 during midday trading on Friday, hitting $18.37. The company had a trading volume of 526,991 shares, compared to its average volume of 521,569. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.65. Hope Bancorp has a 52-week low of $17.14 and a 52-week high of $19.86. The firm has a market capitalization of $2,572.25, a P/E ratio of 17.84, a PEG ratio of 1.21 and a beta of 1.37.
About Hope Bancorp
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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