Hope Bancorp Inc (NASDAQ:HOPE) has earned an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $19.70.
HOPE has been the topic of a number of research analyst reports. ValuEngine raised Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Zacks Investment Research upgraded Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Tuesday, December 26th. Piper Jaffray Companies restated a “hold” rating and issued a $22.00 price objective on shares of Hope Bancorp in a report on Tuesday, January 9th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $18.50 price objective on shares of Hope Bancorp in a report on Thursday, October 26th. Finally, Raymond James Financial restated a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd.
In related news, EVP David Lee Song sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total transaction of $57,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jason K. Kim sold 10,518 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $18.83, for a total value of $198,053.94. Following the sale, the executive vice president now owns 42,964 shares in the company, valued at $809,012.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,757 shares of company stock worth $1,544,980. Company insiders own 5.20% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Shelton Capital Management raised its holdings in shares of Hope Bancorp by 8.2% during the 2nd quarter. Shelton Capital Management now owns 12,630 shares of the financial services provider’s stock valued at $236,000 after buying an additional 962 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Hope Bancorp by 2.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 115,136 shares of the financial services provider’s stock worth $2,102,000 after purchasing an additional 2,786 shares during the last quarter. Tyers Asset Management LLC increased its holdings in Hope Bancorp by 21.4% during the 4th quarter. Tyers Asset Management LLC now owns 17,640 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 3,108 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Hope Bancorp by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 55,386 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Flinton Capital Management LLC increased its holdings in Hope Bancorp by 21.4% during the 4th quarter. Flinton Capital Management LLC now owns 21,420 shares of the financial services provider’s stock worth $391,000 after purchasing an additional 3,774 shares during the last quarter. Institutional investors and hedge funds own 82.11% of the company’s stock.
Shares of Hope Bancorp (HOPE) traded up $0.23 during trading hours on Wednesday, reaching $18.76. The company’s stock had a trading volume of 576,400 shares, compared to its average volume of 541,212. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.69. Hope Bancorp has a 12-month low of $17.14 and a 12-month high of $19.86. The firm has a market cap of $2,542.20, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.19 and a beta of 1.38.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The firm had revenue of $142.84 million for the quarter, compared to analyst estimates of $139.26 million. During the same period last year, the company earned $0.31 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. equities analysts predict that Hope Bancorp will post 1.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 19th. Stockholders of record on Monday, February 5th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.77%. Hope Bancorp’s dividend payout ratio (DPR) is 50.49%.
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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.
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