StockNews.com Downgrades Hope Bancorp (NASDAQ:HOPE) to Hold

Hope Bancorp (NASDAQ:HOPEGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Hope Bancorp from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. DA Davidson cut Hope Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $16.00 in a report on Wednesday, May 18th.

Shares of HOPE stock opened at $14.06 on Wednesday. Hope Bancorp has a 12 month low of $12.48 and a 12 month high of $17.68. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $15.27 and a two-hundred day moving average of $15.60. The company has a market capitalization of $1.69 billion, a P/E ratio of 7.77 and a beta of 1.30.

Hope Bancorp (NASDAQ:HOPEGet Rating) last issued its earnings results on Monday, April 18th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. Hope Bancorp had a return on equity of 10.68% and a net margin of 35.68%. The business had revenue of $146.36 million during the quarter, compared to analysts’ expectations of $144.13 million. During the same period in the prior year, the firm posted $0.35 EPS. Hope Bancorp’s quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Hope Bancorp will post 1.79 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Toroso Investments LLC increased its holdings in Hope Bancorp by 12.5% during the 1st quarter. Toroso Investments LLC now owns 11,543 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 1,278 shares in the last quarter. Jane Street Group LLC acquired a new stake in Hope Bancorp during the 1st quarter valued at $163,000. Quantbot Technologies LP increased its holdings in Hope Bancorp by 115.3% during the 1st quarter. Quantbot Technologies LP now owns 33,023 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 17,686 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in Hope Bancorp by 54.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 45,207 shares of the financial services provider’s stock valued at $727,000 after buying an additional 16,006 shares during the last quarter. Finally, Guggenheim Capital LLC bought a new position in Hope Bancorp in the 1st quarter valued at $218,000. 85.15% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Company Profile (Get Rating)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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