Hope Bancorp (NASDAQ:HOPE) Given New $14.00 Price Target at Keefe, Bruyette & Woods

Hope Bancorp (NASDAQ:HOPE) had its price target hoisted by Keefe, Bruyette & Woods from $13.00 to $14.00 in a report published on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on HOPE. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. DA Davidson restated a “buy” rating and issued a $14.50 target price on shares of Hope Bancorp in a report on Wednesday, January 28th. Finally, Brean Capital upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.25.

Hope Bancorp Trading Up 1.4%

NASDAQ HOPE opened at $11.79 on Monday. 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 has a 52 week low of $8.82 and a 52 week high of $12.79. The stock has a market capitalization of $1.51 billion, a PE ratio of 25.63 and a beta of 0.80. The firm has a 50 day moving average of $11.58 and a two-hundred day moving average of $11.16.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 EPS 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 company had revenue of $145.76 million during the quarter, compared to analysts’ expectations of $142.90 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue was up 23.6% on a year-over-year basis. As a group, research analysts expect that Hope Bancorp will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $0.14 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.56 annualized dividend and a yield of 4.7%. Hope Bancorp’s dividend payout ratio is 121.74%.

Insider Buying and Selling

In related news, Director Daisy Y. Ha sold 31,020 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $12.48, for a total value of $387,129.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.16% of the stock is currently owned by company insiders.

Institutional Trading of Hope Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC purchased a new stake in Hope Bancorp in the 4th quarter valued at $595,000. Rockefeller Capital Management L.P. raised 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 valued at $40,000 after purchasing an additional 2,862 shares during the last quarter. Corient Private Wealth LLC raised its position in Hope Bancorp by 5.1% in the 4th quarter. Corient Private Wealth LLC now owns 22,218 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 1,074 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Hope Bancorp by 12.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,384 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 2,672 shares during the last quarter. Finally, Man Group plc raised its position in Hope Bancorp by 76.7% during the 4th quarter. Man Group plc now owns 25,532 shares of the financial services provider’s stock worth $280,000 after buying an additional 11,082 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.