Zacks: Brokerages Anticipate Bank of Hope (HOPE) to Post $0.37 Earnings Per Share

Equities analysts expect that Bank of Hope (NASDAQ:HOPE) will post $0.37 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Bank of Hope’s earnings, with the highest EPS estimate coming in at $0.39 and the lowest estimate coming in at $0.36. Bank of Hope reported earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 23.3%. The business is expected to issue its next quarterly earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that Bank of Hope will report full year earnings of $1.52 per share for the current fiscal year, with EPS estimates ranging from $1.49 to $1.59. For the next year, analysts anticipate that the company will report earnings of $1.62 per share, with EPS estimates ranging from $1.57 to $1.67. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bank of Hope.

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Bank of Hope (NASDAQ:HOPE) last announced its earnings results on Tuesday, April 17th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $139.92 million for the quarter, compared to analyst estimates of $140.35 million. Bank of Hope had a net margin of 23.46% and a return on equity of 9.35%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Bank of Hope from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. ValuEngine upgraded shares of Bank of Hope from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Piper Jaffray restated a “hold” rating and set a $22.00 target price on shares of Bank of Hope in a research report on Tuesday, January 9th. Finally, DA Davidson lowered their target price on shares of Bank of Hope from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.75.

In related news, EVP Jason K. Kim sold 10,518 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $18.83, for a total transaction of $198,053.94. Following the completion of the sale, the executive vice president now directly owns 42,964 shares of the company’s stock, valued at $809,012.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jason K. Kim sold 10,406 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $18.29, for a total value of $190,325.74. Following the sale, the executive vice president now directly owns 42,964 shares of the company’s stock, valued at $785,811.56. The disclosure for this sale can be found here. 5.20% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zeke Capital Advisors LLC acquired a new stake in shares of Bank of Hope during the fourth quarter worth $199,000. Gotham Asset Management LLC acquired a new stake in shares of Bank of Hope during the fourth quarter worth $203,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Bank of Hope during the fourth quarter worth $214,000. Stone Ridge Asset Management LLC acquired a new stake in shares of Bank of Hope during the fourth quarter worth $227,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Bank of Hope during the fourth quarter worth $244,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Shares of HOPE opened at $17.42 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $2,367.47, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.34. Bank of Hope has a 12-month low of $17.03 and a 12-month high of $19.86.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 27th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, April 26th. Bank of Hope’s dividend payout ratio is presently 42.62%.

About Bank of Hope

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.

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Earnings History and Estimates for Bank of Hope (NASDAQ:HOPE)

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