Hope Bancorp (NASDAQ:HOPE) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Hope Bancorp, Inc. (NASDAQ:HOPE) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.14 and traded as high as $11.38. Hope Bancorp shares last traded at $11.05, with a volume of 1,147,510 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. DA Davidson reissued a “buy” rating and issued a $14.50 price target on shares of Hope Bancorp in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on shares of Hope Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. Finally, Zacks Research downgraded shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.75.

Hope Bancorp Trading Up 0.6%

The stock has a market cap of $1.43 billion, a P/E ratio of 24.30 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50-day moving average price of $11.65 and a 200-day moving average price of $11.14.

Hope Bancorp (NASDAQ:HOPE) last posted 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. The company had revenue of $145.76 million for the quarter, compared to analysts’ expectations of $142.90 million. Hope Bancorp had a net margin of 5.81% and a return on equity of 5.09%. Hope Bancorp’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.20 earnings per share. On average, equities research analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.0%. Hope Bancorp’s dividend payout ratio is presently 121.74%.

Insider Buying and Selling at Hope Bancorp

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOPE. PNC Financial Services Group Inc. lifted its stake in Hope Bancorp by 9.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 960 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Hope Bancorp by 6.2% during the 4th quarter. Hantz Financial Services Inc. now owns 18,064 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 1,051 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Hope Bancorp by 5.1% during 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. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Hope Bancorp by 0.4% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 269,046 shares of the financial services provider’s stock valued at $2,950,000 after buying an additional 1,152 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Hope Bancorp by 3.5% during the 3rd quarter. Amalgamated Bank now owns 36,959 shares of the financial services provider’s stock valued at $398,000 after buying an additional 1,250 shares in the last quarter. 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.