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

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.86 and traded as high as $13.04. Hope Bancorp shares last traded at $12.96, with a volume of 997,395 shares changing hands.

Analyst Upgrades and Downgrades

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

Hope Bancorp Stock Performance

The stock’s 50-day moving average is $12.49 and its 200 day moving average is $11.86. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 24.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.96.

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

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Friday, May 8th. Hope Bancorp’s dividend payout ratio is currently 107.69%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 12,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total value of $150,360.00. Following the completion of the transaction, the director owned 373,115 shares in the company, valued at approximately $4,675,130.95. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.27% of the company’s stock.

Hedge Funds Weigh In On Hope Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alpine Woods Capital Investors LLC acquired a new position in Hope Bancorp during the first quarter worth about $201,000. Bank of America Corp DE lifted its position in shares of Hope Bancorp by 16.9% during the 1st quarter. Bank of America Corp DE now owns 989,030 shares of the financial services provider’s stock valued at $11,047,000 after acquiring an additional 142,807 shares during the period. Amundi lifted its position in shares of Hope Bancorp by 33.1% during the 1st quarter. Amundi now owns 19,113 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 4,748 shares during the period. Royal Bank of Canada boosted its stake in shares of Hope Bancorp by 51.4% during the 1st quarter. Royal Bank of Canada now owns 11,457 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 3,890 shares in the last quarter. Finally, Rhino Investment Partners Inc boosted its stake in shares of Hope Bancorp by 9.9% during the 1st quarter. Rhino Investment Partners Inc now owns 2,595,281 shares of the financial services provider’s stock worth $28,989,000 after acquiring an additional 232,783 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.