Hope Bancorp’s (HOPE) Hold Rating Reiterated at Keefe, Bruyette & Woods
Hope Bancorp, Inc. (NASDAQ:HOPE)‘s stock had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods in a research note issued on Thursday. They presently have a $19.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 24.92% from the company’s current price.
A number of other equities analysts have also recently issued reports on HOPE. ValuEngine cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Piper Jaffray Companies dropped their price objective on shares of Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, May 30th. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th. BidaskClub upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Hope Bancorp in a research note on Tuesday, June 27th. Six research analysts have rated the stock with a hold rating, Hope Bancorp presently has an average rating of “Hold” and an average price target of $20.00.
Hope Bancorp (NASDAQ:HOPE) traded down 2.50% on Thursday, hitting $15.21. 684,883 shares of the stock traded hands. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 13.89 and a beta of 1.39. The stock has a 50-day moving average of $16.93 and a 200-day moving average of $18.56. Hope Bancorp has a 12-month low of $15.10 and a 12-month high of $22.99.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.02. Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. The business had revenue of $132.94 million during the quarter, compared to analyst estimates of $136.80 million. Analysts forecast that Hope Bancorp will post $1.20 earnings per share for the current year.
In other Hope Bancorp news, Director Donald Byun sold 101,026 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $16.45, for a total transaction of $1,661,877.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jason K. Kim sold 2,750 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the sale, the executive vice president now directly owns 70,729 shares in the company, valued at approximately $1,251,903.30. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of HOPE. Amalgamated Bank bought a new stake in Hope Bancorp during the 2nd quarter worth about $220,000. Public Employees Retirement System of Ohio bought a new stake in Hope Bancorp during the 2nd quarter worth about $1,324,000. BNP Paribas Arbitrage SA bought a new stake in Hope Bancorp during the 3rd quarter worth about $394,000. Foundry Partners LLC bought a new stake in Hope Bancorp during the 3rd quarter worth about $416,000. Finally, First Mercantile Trust Co. bought a new stake in Hope Bancorp during the 3rd quarter worth about $119,000. 79.47% of the stock is currently owned by hedge funds and other institutional investors.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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