Hope Bancorp (NASDAQ:HOPE) Stock Rating Upgraded by StockNews.com

Hope Bancorp (NASDAQ:HOPE) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

Hope Bancorp Stock Down 0.7 %

Shares of Hope Bancorp stock opened at $13.66 on Tuesday. The company has a market cap of $1.65 billion, a P/E ratio of 16.26 and a beta of 1.13. Hope Bancorp has a 52-week low of $9.45 and a 52-week high of $14.53. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average price is $12.69 and its 200-day moving average price is $11.78.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The business had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter in the prior year, the company posted $0.25 EPS. On average, sell-side analysts predict that Hope Bancorp will post 0.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.40, for a total transaction of $132,717.20. Following the sale, the director now owns 21,538 shares in the company, valued at approximately $267,071.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of Hope Bancorp stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daisy Y. Ha sold 27,104 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the completion of the sale, the director now directly owns 446,806 shares in the company, valued at $6,179,326.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,185 shares of company stock worth $714,130 in the last 90 days. Insiders own 5.29% of the company’s stock.

Hedge Funds Weigh In On Hope Bancorp

A number of institutional investors have recently modified their holdings of HOPE. nVerses Capital LLC purchased a new stake in shares of Hope Bancorp in the third quarter worth about $48,000. SageView Advisory Group LLC purchased a new stake in Hope Bancorp in the 1st quarter worth approximately $49,000. Quantbot Technologies LP acquired a new stake in shares of Hope Bancorp during the 3rd quarter worth approximately $58,000. Fifth Third Bancorp increased its holdings in shares of Hope Bancorp by 149.5% during the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 3,163 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,238 shares during the period. Hedge funds and other institutional investors 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.