Hope Bancorp (NASDAQ:HOPE) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Hope Bancorp (NASDAQ:HOPE) had its price target hoisted by equities research analysts at Keefe, Bruyette & Woods from $12.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 8.42% from the stock’s current price.

A number of other analysts have also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a research report on Monday, December 29th. Wall Street Zen raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, DA Davidson set a $14.50 target price on Hope Bancorp in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.75.

Hope Bancorp Stock Up 2.0%

NASDAQ:HOPE opened at $11.99 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. Hope Bancorp has a twelve month low of $8.82 and a twelve month high of $12.35. The company has a market cap of $1.54 billion, a PE ratio of 26.07 and a beta of 0.86. The company’s 50 day moving average is $11.30 and its two-hundred day moving average is $10.88.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $145.76 million during the quarter, compared to analysts’ expectations of $142.90 million. Hope Bancorp had a net margin of 5.81% and a return on equity of 5.09%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $0.20 earnings per share. Analysts anticipate that Hope Bancorp will post 1.09 EPS for the current year.

Insider Activity

In related news, Director David P. Malone sold 20,820 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.50, for a total value of $239,430.00. Following the completion of the transaction, the director directly owned 66,658 shares in the company, valued at $766,567. The trade was a 23.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 26,787 shares of company stock valued at $303,917. Insiders own 5.16% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HOPE. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Hope Bancorp by 0.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 269,046 shares of the financial services provider’s stock valued at $2,950,000 after acquiring an additional 1,152 shares during the period. GAMMA Investing LLC lifted its position in shares of Hope Bancorp by 29.3% during the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,211 shares in the last quarter. Amalgamated Bank lifted its position in shares of Hope Bancorp by 3.5% during the third quarter. Amalgamated Bank now owns 36,959 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 1,250 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Hope Bancorp by 6.9% in the second quarter. Corient Private Wealth LLC now owns 20,809 shares of the financial services provider’s stock valued at $223,000 after purchasing an additional 1,340 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Hope Bancorp by 61.0% in the third quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.