Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $19.10.

Several research firms have recently issued reports on HOPE. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $17.50 price objective on shares of Hope Bancorp in a research report on Tuesday, October 3rd. DA Davidson restated a “buy” rating and issued a $21.00 price target on shares of Hope Bancorp in a research report on Monday, September 18th. FIG Partners cut shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $20.00 to $17.00 in a research report on Friday, September 15th. ValuEngine cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.

Hope Bancorp (HOPE) traded down 0.28% during trading on Thursday, reaching $17.84. 116,344 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $16.68 and its 200-day moving average is $17.88. The company has a market cap of $2.41 billion, a P/E ratio of 16.29 and a beta of 1.41. Hope Bancorp has a 12-month low of $15.10 and a 12-month high of $22.99.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02). The company had revenue of $132.94 million for the quarter, compared to the consensus estimate of $136.80 million. Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. Analysts predict that Hope Bancorp will post $1.19 EPS for the current fiscal year.

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In related news, EVP Jason K. Kim sold 2,750 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $17.70, for a total value of $48,675.00. Following the sale, the executive vice president now owns 70,729 shares in the company, valued at $1,251,903.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald Byun sold 101,026 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $16.45, for a total transaction of $1,661,877.70. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in HOPE. First Interstate Bank increased its position in Hope Bancorp by 254.3% in the second quarter. First Interstate Bank now owns 6,395 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 4,590 shares during the last quarter. Bank of Montreal Can increased its position in Hope Bancorp by 1.2% in the second quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 122 shares during the last quarter. Riverhead Capital Management LLC increased its position in Hope Bancorp by 100.4% in the second quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 5,121 shares during the last quarter. Teacher Retirement System of Texas increased its position in Hope Bancorp by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 55 shares during the last quarter. Finally, Connable Office Inc. bought a new stake in Hope Bancorp in the second quarter worth $196,000. Institutional investors own 79.39% of the company’s stock.

Hope Bancorp Company Profile

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.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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