Hope Bancorp, Inc. (NASDAQ:HOPE)‘s stock had its “hold” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research note issued to investors on Tuesday. They presently have a $17.50 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 3.37% from the company’s current price.

Several other research analysts have also weighed in on the stock. FIG Partners lowered shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, July 26th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Hope Bancorp in a report on Tuesday, June 27th. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, July 12th. BidaskClub raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a research note on Monday, September 18th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.42.

Hope Bancorp (NASDAQ:HOPE) traded up 0.44% during mid-day trading on Tuesday, reaching $18.11. 564,017 shares of the company’s stock were exchanged. Hope Bancorp has a 52 week low of $15.10 and a 52 week high of $22.99. The stock has a market cap of $2.45 billion, a P/E ratio of 16.54 and a beta of 1.41. The stock has a 50-day moving average price of $16.42 and a 200-day moving average price of $17.92.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.02). The company had revenue of $132.94 million for the quarter, compared to analyst estimates of $136.80 million. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. On average, analysts forecast that Hope Bancorp will post $1.20 earnings per share for the current year.

WARNING: “Hope Bancorp’s (HOPE) Hold Rating Reaffirmed at Keefe, Bruyette & Woods” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States & international copyright & trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/10/03/hope-bancorps-hope-hold-rating-reaffirmed-at-keefe-bruyette-woods.html.

In related news, EVP Jason K. Kim sold 2,750 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at approximately $1,251,903.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Donald Byun sold 101,026 shares of the stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its stake in Hope Bancorp by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock valued at $192,000 after buying an additional 55 shares in the last quarter. Hanson & Doremus Investment Management increased its position in shares of Hope Bancorp by 0.7% during the second quarter. Hanson & Doremus Investment Management now owns 11,870 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 85 shares in the last quarter. Bank of Montreal Can increased its position in shares of Hope Bancorp by 1.2% during the second quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 122 shares in the last quarter. Amalgamated Bank increased its position in shares of Hope Bancorp by 1.8% during the second quarter. Amalgamated Bank now owns 17,669 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 305 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Hope Bancorp by 1.3% during the first quarter. Municipal Employees Retirement System of Michigan now owns 29,041 shares of the financial services provider’s stock worth $557,000 after acquiring an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

About Hope Bancorp

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

Receive News & Stock Ratings for Hope Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp Inc. and related stocks with our FREE daily email newsletter.