Hope Bancorp (NASDAQ:HOPE) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Hope Bancorp, Inc. (NASDAQ:HOPE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.23 and traded as high as $13.44. Hope Bancorp shares last traded at $13.44, with a volume of 1,250,056 shares traded.

Wall Street Analysts Forecast Growth

Several research 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 increased their target price on shares of Hope Bancorp from $14.50 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Keefe, Bruyette & Woods raised their target price on shares of Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research note on Monday, April 6th. Finally, Brean Capital raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.50.

Hope Bancorp Stock Performance

The company has a market capitalization of $1.72 billion, a P/E ratio of 25.85 and a beta of 0.83. 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 business’s fifty day simple moving average is $13.03 and its 200-day simple moving average is $12.23.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. The business had revenue of $133.82 million during the quarter, compared to the consensus estimate of $145.30 million. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The business’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Activity at Hope Bancorp

In related news, Director Daisy Y. Ha sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total transaction of $150,360.00. Following the completion of the transaction, the director directly owned 373,115 shares of the company’s stock, valued at approximately $4,675,130.95. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.27% of the company’s stock.

Institutional Trading of Hope Bancorp

Several hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Hope Bancorp by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider’s stock worth $122,089,000 after buying an additional 303,019 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hope Bancorp by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider’s stock worth $82,298,000 after buying an additional 315,028 shares during the last quarter. State Street Corp raised its position in shares of Hope Bancorp by 3.3% during the 2nd quarter. State Street Corp now owns 6,494,266 shares of the financial services provider’s stock valued at $69,683,000 after buying an additional 209,442 shares in the last quarter. HoldCo Asset Management LP purchased a new stake in shares of Hope Bancorp during the 4th quarter valued at about $32,838,000. Finally, Rhino Investment Partners Inc lifted its holdings in shares of Hope Bancorp by 9.9% in the 1st quarter. Rhino Investment Partners Inc now owns 2,595,281 shares of the financial services provider’s stock valued at $28,989,000 after acquiring an additional 232,783 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.