Hope Bancorp Inc (HOPE) Receives Consensus Rating of “Hold” from Brokerages

Shares of Hope Bancorp Inc (NASDAQ:HOPE) have earned a consensus recommendation of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.92.

Several equities research analysts have recently commented on HOPE shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $17.50 target price on shares of Hope Bancorp in a report on Tuesday, October 3rd. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. ValuEngine raised Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Raymond James Financial reissued a “market perform” rating on shares of Hope Bancorp in a research note on Thursday, November 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $22.00 price objective on shares of Hope Bancorp in a research note on Tuesday, January 9th.

In related news, EVP David Lee Song sold 3,000 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total value of $57,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason K. Kim sold 6,000 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $18.97, for a total value of $113,820.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at $1,341,729.13. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,981 shares of company stock valued at $2,303,614. Company insiders own 5.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Amalgamated Bank increased its position in Hope Bancorp by 1.8% in the 2nd quarter. Amalgamated Bank now owns 17,669 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 305 shares during the last quarter. Shelton Capital Management increased its position in Hope Bancorp by 8.2% in the 2nd quarter. Shelton Capital Management now owns 12,630 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 962 shares during the last quarter. Pinebridge Investments L.P. increased its position in Hope Bancorp by 3.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 84,660 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 2,586 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Hope Bancorp by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 55,386 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Aperio Group LLC increased its position in Hope Bancorp by 6.0% in the 3rd quarter. Aperio Group LLC now owns 68,244 shares of the financial services provider’s stock worth $1,209,000 after purchasing an additional 3,873 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Shares of Hope Bancorp (HOPE) traded up $0.32 during midday trading on Friday, hitting $18.98. The stock had a trading volume of 420,482 shares, compared to its average volume of 427,774. Hope Bancorp has a twelve month low of $15.10 and a twelve month high of $22.99. The stock has a market capitalization of $2,620.00, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. The business had revenue of $139.51 million during the quarter, compared to the consensus estimate of $137.93 million. During the same period in the prior year, the business posted $0.22 earnings per share. research analysts anticipate that Hope Bancorp will post 1.21 earnings per share for the current fiscal year.

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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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