$0.35 EPS Expected for Hope Bancorp Inc (HOPE) This Quarter

Equities analysts expect Hope Bancorp Inc (NASDAQ:HOPE) to report earnings per share of $0.35 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Hope Bancorp’s earnings. The highest EPS estimate is $0.37 and the lowest is $0.33. Hope Bancorp posted earnings of $0.32 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.4%. The business is scheduled to report its next quarterly earnings report after the market closes on Tuesday, January 22nd.

On average, analysts expect that Hope Bancorp will report full-year earnings of $1.44 per share for the current financial year, with EPS estimates ranging from $1.42 to $1.46. For the next year, analysts anticipate that the business will report earnings of $1.45 per share, with EPS estimates ranging from $1.38 to $1.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $141.01 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis.

Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. TheStreet lowered shares of Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. DA Davidson dropped their price objective on shares of Hope Bancorp to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, October 18th. Sandler O’Neill set a $16.00 target price on shares of Hope Bancorp and gave the stock a “hold” rating in a research note on Wednesday, October 17th. Finally, ValuEngine downgraded shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.25.

In other news, COO David P. Malone bought 3,450 shares of the company’s stock in a transaction dated Friday, October 19th. The shares were purchased at an average price of $14.58 per share, for a total transaction of $50,301.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.06% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Hope Bancorp by 8.0% during the third quarter. Dimensional Fund Advisors LP now owns 9,953,027 shares of the financial services provider’s stock valued at $160,940,000 after buying an additional 739,692 shares during the last quarter. Marshall Wace LLP bought a new position in Hope Bancorp during the third quarter valued at $6,454,000. Public Employees Retirement System of Ohio lifted its position in Hope Bancorp by 239.0% during the second quarter. Public Employees Retirement System of Ohio now owns 100,722 shares of the financial services provider’s stock valued at $1,796,000 after purchasing an additional 71,007 shares during the last quarter. First Hawaiian Bank bought a new position in Hope Bancorp during the third quarter valued at $562,000. Finally, Victory Capital Management Inc. lifted its position in Hope Bancorp by 47.7% during the third quarter. Victory Capital Management Inc. now owns 74,998 shares of the financial services provider’s stock valued at $1,213,000 after purchasing an additional 24,236 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.

Shares of NASDAQ HOPE traded up $0.13 during midday trading on Wednesday, hitting $13.49. 64,557 shares of the company traded hands, compared to its average volume of 1,326,400. Hope Bancorp has a 12-month low of $11.37 and a 12-month high of $19.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $1.70 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.14 and a beta of 1.47.

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

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