Hope Bancorp, Inc. (NASDAQ:HOPE) Receives $13.75 Consensus PT from Brokerages

Hope Bancorp, Inc. (NASDAQ:HOPE) has received an average recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.75.

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

Insider Buying and Selling

In other Hope Bancorp news, Director Daisy Y. Ha sold 31,020 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.16% of the company’s stock.

Institutional Trading of Hope Bancorp

Several institutional investors have recently made changes to their positions in HOPE. Global Retirement Partners LLC purchased a new stake in shares of Hope Bancorp in the fourth quarter valued at about $28,000. International Assets Investment Management LLC purchased a new position in Hope Bancorp during the fourth quarter worth about $29,000. Geneos Wealth Management Inc. boosted its holdings in Hope Bancorp by 294.0% during the first 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 during the last quarter. Rockefeller Capital Management L.P. grew its position 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 worth $40,000 after purchasing an additional 2,862 shares in the last quarter. Finally, Versant Capital Management Inc grew its position 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 worth $43,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $11.63 on Wednesday. The company has a fifty day simple moving average of $11.58 and a 200 day simple moving average of $11.15. Hope Bancorp has a 12-month low of $8.82 and a 12-month high of $12.79. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.49 billion, a P/E ratio of 25.28 and a beta of 0.80.

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

Hope Bancorp Announces Dividend

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

Hope Bancorp Company Profile

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.