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

Shares of Hope Bancorp Inc (NASDAQ:HOPE) have earned an average rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.70.

Several research analysts have weighed in on HOPE shares. ValuEngine raised Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research raised Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Tuesday, December 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $22.00 price target on shares of Hope Bancorp in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.50 price target on shares of Hope Bancorp in a research report on Thursday, October 26th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Hope Bancorp in a research report on Thursday, November 2nd.

In related news, Director Steven Koh sold 47,833 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total transaction of $919,350.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 60,833 shares of company stock worth $1,156,600 over the last three months. 5.20% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of HOPE. BlackRock Inc. grew its holdings in Hope Bancorp by 2.6% in the 4th quarter. BlackRock Inc. now owns 16,763,614 shares of the financial services provider’s stock valued at $305,938,000 after buying an additional 420,915 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock valued at $151,931,000 after buying an additional 960,796 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Hope Bancorp by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,801,510 shares of the financial services provider’s stock valued at $138,164,000 after buying an additional 303,779 shares in the last quarter. State Street Corp grew its holdings in Hope Bancorp by 0.9% in the 2nd quarter. State Street Corp now owns 4,811,337 shares of the financial services provider’s stock valued at $89,732,000 after buying an additional 43,135 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Hope Bancorp by 14.8% in the 3rd quarter. Principal Financial Group Inc. now owns 4,457,274 shares of the financial services provider’s stock valued at $78,939,000 after buying an additional 576,268 shares in the last quarter. 80.97% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp (HOPE) traded up $0.18 during trading hours on Wednesday, hitting $18.05. The company’s stock had a trading volume of 648,500 shares, compared to its average volume of 529,289. The firm has a market cap of $2,421.60, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 1.14 and a beta of 1.38. Hope Bancorp has a 52-week low of $17.14 and a 52-week high of $19.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.07 and a quick ratio of 1.06.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm had revenue of $142.84 million for the quarter, compared to analyst estimates of $139.26 million. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. equities research analysts forecast that Hope Bancorp will post 1.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 19th. Investors of record on Monday, February 5th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, February 2nd. Hope Bancorp’s payout ratio is presently 50.49%.

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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.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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