Brokerages predict that Hope Bancorp Inc (NASDAQ:HOPE) will post earnings of $0.36 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Hope Bancorp’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.37. Hope Bancorp posted earnings of $0.33 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.1%. The business is expected to issue its next quarterly earnings report on Tuesday, October 23rd.
According to Zacks, 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 post earnings of $1.55 per share, with EPS estimates ranging from $1.49 to $1.62. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. The business had revenue of $138.09 million during the quarter, compared to analyst estimates of $139.60 million. During the same period in the previous year, the business earned $0.30 EPS.
HOPE traded down $0.11 during trading hours on Thursday, reaching $16.56. The company’s stock had a trading volume of 56,575 shares, compared to its average volume of 787,021. Hope Bancorp has a fifty-two week low of $16.49 and a fifty-two week high of $19.86. The stock has a market capitalization of $2.18 billion, a PE ratio of 13.67, a P/E/G 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.
In other news, EVP David Lee Song sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 4,023 shares in the company, valued at $71,408.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald Byun sold 40,456 shares of the business’s stock in a transaction that occurred 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 sale, 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. 5.06% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hartford Investment Management Co. purchased a new stake in Hope Bancorp in the 2nd quarter worth approximately $257,000. Gator Capital Management LLC bought a new stake in shares of Hope Bancorp in the 2nd quarter worth about $267,000. Xact Kapitalforvaltning AB grew its position in shares of Hope Bancorp by 62.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 21,769 shares of the financial services provider’s stock valued at $396,000 after buying an additional 8,400 shares during the last quarter. Foundry Partners LLC grew its position in shares of Hope Bancorp by 15.8% during the 2nd quarter. Foundry Partners LLC now owns 25,710 shares of the financial services provider’s stock valued at $458,000 after buying an additional 3,500 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its stake in Hope Bancorp by 14.2% during the 2nd quarter. Flinton Capital Management LLC now owns 27,098 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 3,366 shares during the period. 90.09% of the stock is owned by institutional investors and hedge funds.
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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