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.
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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