Hope Bancorp, Inc. (HOPE) Given Average Recommendation of “Hold” by Brokerages

Hope Bancorp, Inc. (NASDAQ:HOPE) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $19.30.

Several equities analysts recently commented on the stock. FIG Partners cut shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and cut their target price for the company from $20.00 to $17.00 in a research note on Friday, September 15th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $19.00 price objective on shares of Hope Bancorp in a research note on Thursday, September 7th. Raymond James Financial restated a “market perform” rating on shares of Hope Bancorp in a research note on Thursday, November 2nd. ValuEngine upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th.

Hope Bancorp (NASDAQ HOPE) traded up $0.04 during midday trading on Friday, hitting $18.76. 522,483 shares of the company traded hands, compared to its average volume of 483,833. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The company has a market cap of $2,540.00, a P/E ratio of 15.20, a P/E/G ratio of 1.54 and a beta of 1.40. Hope Bancorp has a fifty-two week low of $17.14 and a fifty-two week high of $19.42.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million during the quarter, compared to analysts’ expectations of $137.93 million. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. During the same period in the prior year, the company earned $0.22 EPS. sell-side analysts anticipate that Hope Bancorp will post 1.2 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Monday, October 30th. Hope Bancorp’s dividend payout ratio (DPR) is presently 43.70%.

In related news, Director Steven Koh sold 10,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $17.95, for a total value of $179,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alex Ko sold 40,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $18.92, for a total transaction of $756,800.00. Following the completion of the sale, the chief financial officer now owns 10,088 shares in the company, valued at $190,864.96. The disclosure for this sale can be found here. Insiders sold a total of 121,981 shares of company stock worth $2,303,614 in the last ninety days. Insiders own 5.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in Hope Bancorp by 295.1% in the second quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock valued at $72,381,000 after purchasing an additional 2,898,811 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Hope Bancorp by 12.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock worth $151,931,000 after acquiring an additional 960,796 shares in the last quarter. Phocas Financial Corp. acquired a new position in Hope Bancorp during the second quarter worth about $10,205,000. LSV Asset Management raised its stake in Hope Bancorp by 114.6% during the second quarter. LSV Asset Management now owns 697,303 shares of the financial services provider’s stock worth $13,004,000 after acquiring an additional 372,403 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Hope Bancorp by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,497,731 shares of the financial services provider’s stock worth $139,835,000 after acquiring an additional 363,079 shares in the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.

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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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