Zacks: Brokerages Expect Hope Bancorp, Inc. (NASDAQ:HOPE) Will Announce Earnings of $0.41 Per Share

Equities research analysts predict that Hope Bancorp, Inc. (NASDAQ:HOPE) will announce earnings per share (EPS) of $0.41 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Hope Bancorp’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.43. Hope Bancorp posted earnings per share of $0.23 during the same quarter last year, which suggests a positive year-over-year growth rate of 78.3%. The firm is expected to issue its next earnings results after the market closes on Monday, January 24th.

According to Zacks, analysts expect that Hope Bancorp will report full-year earnings of $1.64 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.66. For the next year, analysts anticipate that the firm will report earnings of $1.55 per share, with EPS estimates ranging from $1.42 to $1.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Hope Bancorp.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Sunday, October 24th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. Hope Bancorp had a return on equity of 8.77% and a net margin of 29.96%. The business had revenue of $140.91 million during the quarter, compared to analysts’ expectations of $136.92 million. During the same quarter last year, the business posted $0.25 earnings per share.

A number of research analysts recently weighed in on HOPE shares. Zacks Investment Research downgraded Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday. DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $17.00 to $18.00 in a report on Monday, November 15th.

A number of large investors have recently bought and sold shares of HOPE. First Trust Advisors LP grew its stake in Hope Bancorp by 9.3% in the first quarter. First Trust Advisors LP now owns 453,576 shares of the financial services provider’s stock valued at $5,933,000 after acquiring an additional 38,549 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Hope Bancorp during the first quarter worth about $140,000. Teacher Retirement System of Texas boosted its position in shares of Hope Bancorp by 17.4% during the second quarter. Teacher Retirement System of Texas now owns 16,259 shares of the financial services provider’s stock worth $231,000 after buying an additional 2,414 shares during the period. American Century Companies Inc. boosted its position in shares of Hope Bancorp by 35.5% during the second quarter. American Century Companies Inc. now owns 205,312 shares of the financial services provider’s stock worth $2,911,000 after buying an additional 53,816 shares during the period. Finally, Sei Investments Co. boosted its position in shares of Hope Bancorp by 13.4% during the second quarter. Sei Investments Co. now owns 43,348 shares of the financial services provider’s stock worth $620,000 after buying an additional 5,107 shares during the period. 83.52% of the stock is owned by hedge funds and other institutional investors.

Shares of HOPE traded up $0.27 during midday trading on Friday, reaching $16.79. 33,949 shares of the stock were exchanged, compared to its average volume of 743,617. The firm has a 50 day simple moving average of $15.00 and a 200-day simple moving average of $14.29. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. Hope Bancorp has a 12-month low of $11.05 and a 12-month high of $16.62. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 11.32 and a beta of 1.49.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 18th. Investors of record on Thursday, November 4th were issued a $0.14 dividend. The ex-dividend date was Wednesday, November 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 3.34%. Hope Bancorp’s dividend payout ratio is presently 38.36%.

About Hope Bancorp

Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. The firm offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.

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

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