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.
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.
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