Hope Bancorp, Inc. (NASDAQ:HOPE) Receives $13.75 Average PT from Analysts

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.75.

Several research firms recently commented on HOPE. Weiss Ratings reiterated a “hold (c)” rating on shares of Hope Bancorp in a research report on Monday, December 29th. Brean Capital upgraded Hope Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 1st. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a report on Wednesday, January 28th. Finally, DA Davidson reissued a “buy” rating and set a $14.50 target price on shares of Hope Bancorp in a research report on Wednesday, January 28th.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Y. Ha sold 31,020 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $12.48, for a total value of $387,129.60. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.16% of the company’s stock.

Hedge Funds Weigh In On Hope Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC bought a new position in Hope Bancorp during the 4th quarter valued at about $595,000. Rockefeller Capital Management L.P. grew its stake in shares of Hope Bancorp by 375.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after buying an additional 2,862 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Hope Bancorp by 5.1% in the fourth quarter. Corient Private Wealth LLC now owns 22,218 shares of the financial services provider’s stock worth $244,000 after buying an additional 1,074 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of Hope Bancorp by 12.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 23,384 shares of the financial services provider’s stock worth $256,000 after buying an additional 2,672 shares during the period. Finally, Man Group plc lifted its stake in shares of Hope Bancorp by 76.7% during the 4th quarter. Man Group plc now owns 25,532 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 11,082 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Price Performance

HOPE stock opened at $11.63 on Wednesday. Hope Bancorp has a 52 week low of $8.82 and a 52 week high of $12.79. The firm has a market capitalization of $1.49 billion, a P/E ratio of 25.28 and a beta of 0.80. The company has a fifty day simple moving average of $11.58 and a two-hundred day simple moving average of $11.15. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $145.76 million for the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.20 EPS. Analysts anticipate that Hope Bancorp will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a dividend of $0.14 per share. The ex-dividend date was Friday, February 6th. This represents a $0.56 dividend on an annualized basis and a yield of 4.8%. Hope Bancorp’s payout ratio is 121.74%.

Hope Bancorp Company Profile

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.