Hope Bancorp Inc (HOPE) Expected to Post Earnings of $0.36 Per Share
Analysts forecast that Hope Bancorp Inc (NASDAQ:HOPE) will announce $0.36 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Hope Bancorp’s earnings, with estimates ranging from $0.36 to $0.37. Hope Bancorp reported earnings of $0.33 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The firm is scheduled to announce its next earnings results on Tuesday, October 23rd.
On average, analysts expect that Hope Bancorp will report full year earnings of $1.47 per share for the current year, with EPS estimates ranging from $1.46 to $1.47. For the next fiscal year, analysts anticipate that the company will report earnings of $1.55 per share, with EPS estimates ranging from $1.49 to $1.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The firm had revenue of $138.09 million during the quarter, compared to analysts’ expectations of $139.60 million. Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. During the same period in the previous year, the firm posted $0.30 earnings per share.
HOPE stock traded down $0.11 during midday trading on Thursday, hitting $16.56. The stock had a trading volume of 56,575 shares, compared to its average volume of 787,021. The stock has a market capitalization of $2.18 billion, a P/E ratio of 13.67, a PEG ratio of 1.14 and a beta of 1.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. Hope Bancorp has a 12-month low of $16.49 and a 12-month high of $19.86.
In related news, EVP David Lee Song sold 5,000 shares of Hope Bancorp stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total transaction of $88,750.00. Following the transaction, the executive vice president now owns 4,023 shares in the company, valued at approximately $71,408.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Donald Byun sold 40,456 shares of Hope Bancorp stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $17.84, for a total transaction of $721,735.04. Following the transaction, the director now owns 35,170 shares in the company, valued at approximately $627,432.80. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Systematic Financial Management LP lifted its holdings in Hope Bancorp by 11.4% in the 2nd quarter. Systematic Financial Management LP now owns 730,813 shares of the financial services provider’s stock worth $13,030,000 after buying an additional 74,574 shares in the last quarter. Hartford Investment Management Co. acquired a new position in Hope Bancorp in the 2nd quarter worth $257,000. First Trust Advisors LP lifted its holdings in Hope Bancorp by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 248,870 shares of the financial services provider’s stock worth $4,437,000 after buying an additional 9,795 shares in the last quarter. BlackRock Inc. lifted its holdings in Hope Bancorp by 9.0% in the 2nd quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock worth $328,490,000 after buying an additional 1,527,125 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Hope Bancorp by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 950,370 shares of the financial services provider’s stock worth $16,944,000 after buying an additional 3,905 shares in the last quarter. Institutional investors and hedge funds own 90.09% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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