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.

HOPE has been the subject of a number of research reports. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, September 19th. ValuEngine cut shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 17th. Sandler O’Neill set a $16.00 price target on shares of Hope Bancorp and gave the stock a “hold” rating in a research note on Wednesday, October 17th. DA Davidson cut their price target on shares of Hope Bancorp to $16.00 and set a “neutral” rating for the company in a research note on Thursday, October 18th. Finally, TheStreet cut shares of Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.25.

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)

Get a free copy of the Zacks research report on Hope Bancorp (HOPE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Hope Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.