Brokerages Set Hope Bancorp, Inc. (NASDAQ:HOPE) Price Target at $13.75

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have been assigned a consensus recommendation of “Hold” from the five research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.75.

A number of research analysts recently commented on HOPE shares. Brean Capital raised Hope Bancorp from a “neutral” rating to a “buy” rating in a research note on Wednesday. DA Davidson reissued a “buy” rating and issued a $14.50 target price on shares of Hope Bancorp in a report on Wednesday, January 28th. Keefe, Bruyette & Woods raised their target price on shares of Hope Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th.

Insiders Place Their Bets

In other Hope Bancorp news, Director Daisy Y. Ha sold 31,020 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $12.48, for a total transaction of $387,129.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.16% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new position in shares of Hope Bancorp in the fourth quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in Hope Bancorp during the 4th quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its position in Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Hope Bancorp by 375.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 2,862 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Hope Bancorp by 61.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,503 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of NASDAQ:HOPE opened at $11.63 on Wednesday. The company’s 50 day moving average price is $11.58 and its two-hundred day moving average price is $11.15. Hope Bancorp has a 12-month low of $8.82 and a 12-month high of $12.79. The firm has a market cap of $1.49 billion, a PE ratio of 25.28 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $145.76 million for the quarter, compared to analyst estimates of $142.90 million. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. Equities research analysts predict that Hope Bancorp will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, February 6th. Hope Bancorp’s payout ratio is currently 121.74%.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.