Hope Bancorp (NASDAQ:HOPE) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.
A number of other brokerages have also recently commented on HOPE. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $19.00 target price on shares of Hope Bancorp in a report on Thursday, September 7th. FIG Partners cut Hope Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $20.00 to $17.00 in a report on Friday, September 15th. DA Davidson reiterated a “buy” rating and set a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.58.
Hope Bancorp (NASDAQ HOPE) traded up $0.04 during midday trading on Friday, reaching $18.76. The company had a trading volume of 519,183 shares, compared to its average volume of 483,036. Hope Bancorp has a 12-month low of $17.14 and a 12-month high of $19.42. The stock has a market cap of $2,541.94, a P/E ratio of 15.38, a P/E/G ratio of 1.56 and a beta of 1.39. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.
In other news, EVP Jason K. Kim sold 6,000 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $18.97, for a total transaction of $113,820.00. Following the sale, the executive vice president now owns 70,729 shares in the company, valued at $1,341,729.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Lee Song sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total value of $57,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,981 shares of company stock worth $2,303,614. 5.20% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the company. Zions Bancorporation acquired a new stake in shares of Hope Bancorp during the third quarter worth $102,000. First Interstate Bank boosted its holdings in shares of Hope Bancorp by 254.3% during 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. Commonwealth Equity Services Inc acquired a new stake in shares of Hope Bancorp during the third quarter worth $183,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Hope Bancorp during the third quarter worth $187,000. Finally, Riverhead Capital Management LLC boosted its holdings in shares of Hope Bancorp by 100.4% during 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. Institutional investors and hedge funds own 80.58% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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