Hope Bancorp, Inc. (NASDAQ:HOPE) Receives Consensus Rating of “Moderate Buy” from Analysts

Hope Bancorp, Inc. (NASDAQ:HOPE) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $15.50.

A number of analysts have commented on HOPE shares. Benchmark upgraded Hope Bancorp to a “hold” rating in a research report on Wednesday, September 23rd. Weiss Ratings upgraded Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. DA Davidson raised their target price on shares of Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a report on Monday, August 3rd.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $13.83 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.97. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 13.83 and a beta of 0.83. Hope Bancorp has a 1 year low of $9.80 and a 1 year high of $14.59. The firm has a fifty day moving average price of $13.97 and a 200-day moving average price of $12.94.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $147.82 million for the quarter, compared to analysts’ expectations of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same period last year, the firm earned ($0.22) EPS. As a group, equities analysts predict that Hope Bancorp will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.0%. Hope Bancorp’s dividend payout ratio is 56.00%.

Insider Activity at Hope Bancorp

In related news, Director Daisy Ha sold 26,995 shares of Hope Bancorp stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the transaction, the director owned 346,120 shares in the company, valued at approximately $4,928,748.80. The trade was a 7.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Hope Bancorp

Institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its holdings in Hope Bancorp by 14.8% during the second quarter. QRG Capital Management Inc. now owns 22,521 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 2,902 shares during the period. Engineers Gate Manager LP boosted its stake in shares of Hope Bancorp by 387.0% in the second quarter. Engineers Gate Manager LP now owns 56,438 shares of the financial services provider’s stock worth $772,000 after acquiring an additional 44,848 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Hope Bancorp in the second quarter worth about $34,000. Squarepoint Ops LLC grew its position in shares of Hope Bancorp by 579.3% during the second quarter. Squarepoint Ops LLC now owns 155,861 shares of the financial services provider’s stock worth $2,132,000 after purchasing an additional 132,917 shares in the last quarter. Finally, Corient Private Wealth LP grew its position in shares of Hope Bancorp by 13.8% during the second quarter. Corient Private Wealth LP now owns 31,521 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 3,831 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Bank of Hope, provides banking and financial services to businesses, individuals and organizations, with a particular focus on small and middle-market companies and Korean American communities in the United States.

Bank of Hope offers commercial and industrial loans, commercial real estate financing, Small Business Administration loans, residential mortgage loans, consumer lending, deposit accounts and cash-management services.