Hope Bancorp (NASDAQ:HOPE) Trading Down 3.9%

Hope Bancorp, Inc. (NASDAQ:HOPE) shares fell 3.9% on Monday . The stock traded as low as $10.24 and last traded at $10.53. 118,727 shares changed hands during trading, a decline of 82% from the average session volume of 644,997 shares. The stock had previously closed at $10.96.

Analysts Set New Price Targets

HOPE has been the subject of a number of recent research reports. Wedbush dropped their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hope Bancorp presently has a consensus rating of “Hold” and an average price target of $11.33.

Hope Bancorp Trading Down 9.3 %

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. The business’s 50-day moving average is $10.95 and its two-hundred day moving average is $10.74. The firm has a market cap of $1.20 billion, a P/E ratio of 8.88 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The business had revenue of $135.20 million for the quarter, compared to analyst estimates of $138.47 million. During the same period in the prior year, the company earned $0.43 earnings per share. As a group, analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 9th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.63%. Hope Bancorp’s dividend payout ratio is currently 50.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HOPE. Drive Wealth Management LLC acquired a new position in shares of Hope Bancorp during the 1st quarter worth $116,000. Denali Advisors LLC boosted its holdings in shares of Hope Bancorp by 5.0% during the 1st quarter. Denali Advisors LLC now owns 297,700 shares of the financial services provider’s stock worth $3,427,000 after buying an additional 14,200 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Hope Bancorp by 14.6% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 40,595 shares of the financial services provider’s stock worth $467,000 after buying an additional 5,184 shares during the period. Bridge City Capital LLC boosted its holdings in shares of Hope Bancorp by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 167,405 shares of the financial services provider’s stock worth $1,927,000 after buying an additional 1,263 shares during the period. Finally, CWM LLC boosted its holdings in shares of Hope Bancorp by 39.1% during the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after buying an additional 2,513 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.