Zacks: Analysts Predict Hope Bancorp, Inc. (NASDAQ: HOPE) to Post EPS of $ 0.41

Brokerages expect Hope Bancorp, Inc. (NASDAQ: HOPE) to report earnings per share (EPS) of $ 0.41 for the current quarter, Zack reports. Three analysts made estimates for Hope Bancorp’s earnings. The lowest EPS estimate is $ 0.39 and the highest is $ 0.43. Hope Bancorp reported earnings per share of $ 0.23 in the same quarter last year, which would suggest a positive year-over-year growth rate of 78.3%. The company is expected to announce its next earnings report on Tuesday, January 25.

On average, analysts expect Hope Bancorp to report annual earnings of $ 1.64 per share for the current year, with EPS estimates ranging from $ 1.63 to $ 1.66. For next year, analysts predict the company will report earnings of $ 1.55 per share, with EPS estimates ranging from $ 1.42 to $ 1.60. Zacks earnings per share averages are an average based on a survey of analysts who cover Hope Bancorp.

Hope Bancorp (NASDAQ: HOPE) last released its quarterly results on Sunday, October 24. The financial services provider reported earnings per share (EPS) of $ 0.45 for the quarter, beating the consensus estimate of $ 0.42 by $ 0.03. The company posted revenue of $ 140.91 million for the quarter, compared to analysts’ estimates of $ 136.92 million. Hope Bancorp recorded a return on equity of 8.77% and a net margin of 29.96%. During the same period of the previous year, the company posted earnings per share of $ 0.25.

A number of equity research analysts have weighed on HOPE stocks. DA Davidson downgraded Hope Bancorp from a ‘neutral’ to a ‘buy’ rating and raised its price target for the company from $ 17.00 to $ 18.00 in a report released on Monday, November 15. . Zacks investment research downgraded Hope Bancorp from a “buy” rating to a “conservation” rating in a report released on Monday, November 1.

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Institutional investors and hedge funds have recently changed their positions in the company. The Toronto Dominion Bank increased its holdings of Hope Bancorp shares by 48.9% in the second quarter. The Toronto Dominion Bank now owns 2,792 shares of the financial services provider valued at $ 40,000 after acquiring an additional 917 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in the shares of Hope Bancorp in the third quarter valued at approximately $ 41,000. Point72 Hong Kong Ltd acquired a new position in shares of Hope Bancorp in the 3rd quarter valued at approximately $ 49,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Hope Bancorp in the 1st quarter for a value of approximately $ 140,000. Finally, SG Americas Securities LLC increased its stake in Hope Bancorp shares by 67.5% in the 3rd quarter. SG Americas Securities LLC now owns 11,971 shares of the financial services provider valued at $ 173,000 after acquiring an additional 4,826 shares in the last quarter. 83.76% of the shares are currently held by institutional investors and hedge funds.

NASDAQ HOPE traded down $ 0.03 in Friday’s session, reaching $ 14.30. 3,782,427 shares of the company traded for an average volume of 748,212. The company has a leverage ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s 50-day moving average price is $ 14.82, and its two-hundred-day moving average price is $ 14.29. The company has a market cap of $ 1.72 billion, a price-to-earnings ratio of 9.79 and a beta of 1.50. Hope Bancorp has a one-year low at $ 10.19 and a one-year high at $ 16.61.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 18. Shareholders of record on Thursday, November 4 received a dividend of $ 0.14. This represents an annualized dividend of $ 0.56 and a dividend yield of 3.92%. The ex-dividend date was Wednesday, November 3. Hope Bancorp’s payout ratio is currently 38.36%.

Hope Bancorp Company Profile

Hope Bancorp, Inc is a banking holding company which provides financial services through its subsidiary, Bank of Hope. The company offers basic banking products to small and medium-sized businesses and individuals. Its products and services include certificates of deposit, online banking, bill payment, mobile banking, credit cards and mortgages.

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History and earnings estimates for Hope Bancorp (NASDAQ: HOPE)

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