Hope Bancorp, Inc. (NASDAQ:HOPE – Get Free Report) has earned an average recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $14.50.
A number of analysts have recently issued reports on HOPE shares. Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. DA Davidson boosted their price objective on shares of Hope Bancorp from $14.50 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Brean Capital raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Hope Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a research report on Monday, April 6th.
View Our Latest Research Report on Hope Bancorp
Insiders Place Their Bets
Institutional Investors Weigh In On Hope Bancorp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Hope Bancorp in the fourth quarter worth $28,000. International Assets Investment Management LLC bought a new stake in Hope Bancorp in the fourth quarter worth $29,000. Geneos Wealth Management Inc. boosted its holdings in Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Hope Bancorp by 375.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 2,862 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 3,071 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.
Hope Bancorp Trading Down 0.2%
Shares of Hope Bancorp stock opened at $12.53 on Thursday. Hope Bancorp has a 1 year low of $9.44 and a 1 year high of $13.02. The firm has a market cap of $1.60 billion, a PE ratio of 24.10 and a beta of 0.84. The stock has a fifty day moving average price of $11.99 and a 200-day moving average price of $11.56. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.96.
Hope Bancorp (NASDAQ:HOPE – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. The company had revenue of $133.82 million during the quarter, compared to analyst estimates of $145.30 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS. Equities research analysts anticipate that Hope Bancorp will post 1.13 EPS for the current year.
Hope Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, May 8th. Hope Bancorp’s dividend payout ratio is presently 107.69%.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.
In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.
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