Analysts Anticipate Hope Bancorp Inc (HOPE) Will Announce Quarterly Sales of $136.46 Million
Wall Street analysts predict that Hope Bancorp Inc (NASDAQ:HOPE) will post $136.46 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Hope Bancorp’s earnings. The lowest sales estimate is $135.50 million and the highest is $137.70 million. Hope Bancorp posted sales of $142.84 million during the same quarter last year, which suggests a negative year over year growth rate of 4.5%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, January 22nd.
According to Zacks, analysts expect that Hope Bancorp will report full-year sales of $549.54 million for the current financial year, with estimates ranging from $546.60 million to $551.00 million. For the next financial year, analysts forecast that the business will report sales of $550.12 million, with estimates ranging from $541.50 million to $559.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Hope Bancorp.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $141.01 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. Hope Bancorp’s revenue for the quarter was down 2.1% on a year-over-year basis.
In other Hope Bancorp news, COO David P. Malone acquired 3,450 shares of the stock in a transaction dated Friday, October 19th. The stock was purchased at an average cost of $14.58 per share, for a total transaction of $50,301.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.06% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in shares of Hope Bancorp in the 3rd quarter worth approximately $178,000. Gator Capital Management LLC lifted its holdings in shares of Hope Bancorp by 40.0% in the 3rd quarter. Gator Capital Management LLC now owns 21,000 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 6,000 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Hope Bancorp by 106.2% in the 3rd quarter. AQR Capital Management LLC now owns 26,546 shares of the financial services provider’s stock worth $429,000 after acquiring an additional 13,673 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Hope Bancorp by 47.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 26,654 shares of the financial services provider’s stock worth $431,000 after acquiring an additional 8,550 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Hope Bancorp in the 3rd quarter worth approximately $438,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.
HOPE stock opened at $13.23 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp has a one year low of $11.37 and a one year high of $19.86. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.14 and a beta of 1.47.
Hope Bancorp Company Profile
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.
See Also: Certificate of Deposit (CD)
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