Hope Bancorp, Inc. (NASDAQ:HOPE) Given Consensus Recommendation of “Hold” by Analysts

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have earned a consensus rating of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $14.50.

A number of analysts have recently commented on HOPE shares. Weiss Ratings raised Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. DA Davidson boosted their price objective on Hope Bancorp from $14.50 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Brean Capital raised 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 report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods lifted their price target on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research note on Monday, April 6th.

Hope Bancorp Price Performance

HOPE opened at $13.19 on Monday. Hope Bancorp has a one year low of $9.44 and a one year high of $13.19. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s fifty day moving average is $12.37 and its 200-day moving average is $11.77. The company has a market capitalization of $1.69 billion, a PE ratio of 25.37 and a beta of 0.84.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The company had revenue of $133.82 million for the quarter, compared to the consensus estimate of $145.30 million. During the same quarter in the previous year, the business earned $0.17 EPS. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts predict that Hope Bancorp will post 1.13 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

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 4.2%. Hope Bancorp’s dividend payout ratio (DPR) is currently 107.69%.

Insiders Place Their Bets

In related news, Director Daisy Y. Ha sold 12,000 shares of Hope Bancorp stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total value of $150,360.00. Following the transaction, the director owned 373,115 shares of the company’s stock, valued at approximately $4,675,130.95. This trade represents a 3.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.27% of the company’s stock.

Hedge Funds Weigh In On Hope Bancorp

A number of institutional investors have recently bought and sold shares of HOPE. HoldCo Asset Management LP purchased a new position in Hope Bancorp in the 4th quarter worth about $32,838,000. Millennium Management LLC increased its stake in Hope Bancorp by 366.8% in the 3rd quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock worth $14,439,000 after purchasing an additional 1,053,434 shares in the last quarter. UBS Group AG increased its stake in Hope Bancorp by 73.5% in 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 in the last quarter. Rhino Investment Partners Inc raised its position in Hope Bancorp by 29.8% during the third quarter. Rhino Investment Partners Inc now owns 1,896,501 shares of the financial services provider’s stock valued at $20,425,000 after buying an additional 435,165 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Hope Bancorp by 44.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,310,967 shares of the financial services provider’s stock valued at $14,368,000 after buying an additional 404,505 shares during the period. Hedge funds and other institutional investors 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.