Hope Bancorp, Inc. (NASDAQ:HOPE) Expected to Post Earnings of $0.41 Per Share

Brokerages expect Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) to report $0.41 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Hope Bancorp’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.40. Hope Bancorp reported earnings of $0.43 per share during the same quarter last year, which indicates a negative year over year growth rate of 4.7%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Hope Bancorp will report full-year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.74 to $1.84. For the next fiscal year, analysts forecast that the business will report earnings of $1.88 per share, with EPS estimates ranging from $1.69 to $2.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Hope Bancorp.

Hope Bancorp (NASDAQ:HOPEGet Rating) last released its quarterly earnings results on Monday, April 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. Hope Bancorp had a net margin of 35.68% and a return on equity of 10.68%. The firm had revenue of $146.36 million during the quarter, compared to analyst estimates of $144.13 million. During the same quarter last year, the business earned $0.35 EPS. The company’s revenue was up 11.4% compared to the same quarter last year.

Several equities research analysts recently commented on the company. Zacks Investment Research cut Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. DA Davidson downgraded shares of Hope Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the company from $20.00 to $16.00 in a research report on Wednesday, May 18th. Finally, StockNews.com cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th.

Hope Bancorp stock traded up $0.27 during trading hours on Thursday, reaching $14.68. 31,021 shares of the company’s stock were exchanged, compared to its average volume of 878,601. The firm’s 50 day simple moving average is $15.04 and its 200 day simple moving average is $15.57. Hope Bancorp has a twelve month low of $12.48 and a twelve month high of $17.68. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.77 billion, a PE ratio of 8.10 and a beta of 1.29.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, April 28th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Wednesday, April 27th. Hope Bancorp’s dividend payout ratio is currently 30.94%.

Large investors have recently modified their holdings of the business. CWM LLC raised its holdings in shares of Hope Bancorp by 152.6% in the first quarter. CWM LLC now owns 2,950 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,782 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Hope Bancorp during the 3rd quarter worth $49,000. Advisor Group Holdings Inc. boosted its stake in Hope Bancorp by 51.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,313 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Hope Bancorp in the first quarter valued at approximately $75,000. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of Hope Bancorp during the 1st quarter valued at $359,000. Institutional investors and hedge funds own 85.15% of the company’s stock.

Hope Bancorp Company Profile (Get Rating)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts 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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