Hope Bancorp (NASDAQ:HOPE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Hope Bancorp, Inc. (NASDAQ:HOPE)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.63 and traded as high as $12.46. Hope Bancorp shares last traded at $12.15, with a volume of 1,004,528 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Brean Capital raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Keefe, Bruyette & Woods lifted their target price on shares of Hope Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Monday, April 6th. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings raised shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, DA Davidson lifted their price target on shares of Hope Bancorp from $14.50 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.50.

Hope Bancorp Stock Down 2.8%

The business’s 50 day moving average is $12.14 and its 200-day moving average is $11.63. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 23.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The firm had revenue of $133.82 million for the quarter, compared to analysts’ expectations of $145.30 million. During the same quarter last year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, sell-side analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 4.6%. Hope Bancorp’s dividend payout ratio (DPR) is currently 107.69%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 12,000 shares of Hope Bancorp stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total transaction of $150,360.00. Following the sale, the director owned 373,115 shares of the company’s stock, valued at $4,675,130.95. The trade was a 3.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hope Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhino Investment Partners Inc boosted its stake in Hope Bancorp by 29.8% during the 3rd quarter. Rhino Investment Partners Inc now owns 1,896,501 shares of the financial services provider’s stock worth $20,425,000 after purchasing an additional 435,165 shares during the last quarter. AlphaQuest LLC boosted its stake in Hope Bancorp by 159.4% during the 4th quarter. AlphaQuest LLC now owns 189,175 shares of the financial services provider’s stock worth $2,073,000 after purchasing an additional 116,252 shares during the last quarter. American Century Companies Inc. boosted its stake in Hope Bancorp by 6.3% during the 3rd quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider’s stock worth $34,411,000 after purchasing an additional 188,182 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Hope Bancorp by 15.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 499,967 shares of the financial services provider’s stock worth $5,385,000 after purchasing an additional 67,742 shares during the last quarter. Finally, UBS Group AG boosted its stake in Hope Bancorp by 73.5% during the 4th quarter. UBS Group AG now owns 1,972,716 shares of the financial services provider’s stock worth $21,621,000 after purchasing an additional 835,814 shares during 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.