Wall Street brokerages expect that Hope Bancorp, Inc. (NASDAQ:HOPE) will announce $139.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Hope Bancorp’s earnings, with estimates ranging from $138.10 million to $141.00 million. Hope Bancorp reported sales of $135.40 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The business is scheduled to issue its next earnings results on Tuesday, January 23rd.

According to Zacks, analysts expect that Hope Bancorp will report full year sales of $139.30 million for the current fiscal year, with estimates ranging from $543.10 million to $546.00 million. For the next financial year, analysts forecast that the firm will post sales of $578.23 million per share, with estimates ranging from $573.00 million to $582.70 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $139.51 million during the quarter, compared to the consensus estimate of $137.93 million. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. During the same quarter in the previous year, the firm posted $0.22 EPS.

Several brokerages recently weighed in on HOPE. ValuEngine downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $19.00 target price on shares of Hope Bancorp in a report on Thursday, September 7th. Raymond James Financial reaffirmed a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. DA Davidson reaffirmed a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th. Finally, FIG Partners downgraded shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $20.00 to $17.00 in a report on Friday, September 15th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.58.

In other news, EVP Jason K. Kim sold 6,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $18.97, for a total transaction of $113,820.00. Following the sale, the executive vice president now directly owns 70,729 shares in the company, valued at approximately $1,341,729.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason K. Kim sold 3,669 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $18.25, for a total transaction of $66,959.25. Following the sale, the executive vice president now owns 67,060 shares in the company, valued at $1,223,845. The disclosure for this sale can be found here. Insiders have sold a total of 121,981 shares of company stock valued at $2,303,614 in the last three months. Insiders own 5.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HOPE. Bank of Montreal Can raised its position in shares of Hope Bancorp by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock valued at $191,000 after buying an additional 122 shares in the last quarter. Aperio Group LLC raised its position in Hope Bancorp by 9.9% in the 2nd quarter. Aperio Group LLC now owns 64,371 shares of the financial services provider’s stock worth $1,201,000 after purchasing an additional 5,801 shares during the period. Russell Investments Group Ltd. raised its position in Hope Bancorp by 71.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 51,230 shares of the financial services provider’s stock worth $955,000 after purchasing an additional 21,274 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Hope Bancorp by 3.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 30,011 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 970 shares during the period. Finally, Great West Life Assurance Co. Can raised its position in Hope Bancorp by 3.8% in the 2nd quarter. Great West Life Assurance Co. Can now owns 183,404 shares of the financial services provider’s stock worth $3,418,000 after purchasing an additional 6,662 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.

Shares of Hope Bancorp (HOPE) traded up $0.26 during trading on Tuesday, reaching $19.02. 455,100 shares of the company traded hands, compared to its average volume of 481,869. The company has a market cap of $2,541.95, a P/E ratio of 15.38, a P/E/G ratio of 1.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp has a one year low of $17.14 and a one year high of $19.53.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, October 30th. Hope Bancorp’s dividend payout ratio (DPR) is presently 43.33%.

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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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