Hope Bancorp, Inc. (HOPE) Receives $19.30 Consensus PT from Brokerages
Hope Bancorp, Inc. (NASDAQ:HOPE) has earned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.30.
A number of analysts have recently commented on HOPE shares. ValuEngine upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $17.50 target price on shares of Hope Bancorp in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. FIG Partners cut shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $20.00 to $17.00 in a report on Friday, September 15th. Finally, DA Davidson restated a “buy” rating and set a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th.
Shares of Hope Bancorp (NASDAQ HOPE) traded down $0.12 during mid-day trading on Monday, hitting $17.03. 686,700 shares of the stock were exchanged, compared to its average volume of 540,668. Hope Bancorp has a 1 year low of $15.10 and a 1 year high of $22.99. The company has a market cap of $2,323.80, a PE ratio of 14.06, a PEG ratio of 1.43 and a beta of 1.40. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. The firm had revenue of $139.51 million for the quarter, compared to analysts’ expectations of $137.93 million. During the same quarter in the previous year, the business posted $0.22 EPS. equities research analysts expect that Hope Bancorp will post 1.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Monday, October 30th. Hope Bancorp’s dividend payout ratio is presently 43.33%.
In other Hope Bancorp news, CFO Alex Ko sold 40,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $18.92, for a total value of $756,800.00. Following the completion of the transaction, the chief financial officer now owns 10,088 shares of the company’s stock, valued at approximately $190,864.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jason K. Kim sold 5,739 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $18.17, for a total value of $104,277.63. Following the completion of the transaction, the executive vice president now directly owns 52,709 shares of the company’s stock, valued at approximately $957,722.53. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,174 shares of company stock valued at $2,808,891. 5.20% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. raised its position in Hope Bancorp by 0.3% in the 2nd quarter. BlackRock Inc. now owns 15,820,716 shares of the financial services provider’s stock worth $295,054,000 after buying an additional 51,366 shares during the last quarter. Vanguard Group Inc. raised its position in Hope Bancorp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,011,407 shares of the financial services provider’s stock worth $224,013,000 after buying an additional 145,101 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its position in Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock worth $151,931,000 after buying an additional 960,796 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Hope Bancorp by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,497,731 shares of the financial services provider’s stock worth $139,835,000 after buying an additional 363,079 shares during the last quarter. Finally, State Street Corp raised its position in Hope Bancorp by 0.9% in the 2nd quarter. State Street Corp now owns 4,811,337 shares of the financial services provider’s stock worth $89,732,000 after buying an additional 43,135 shares during the last quarter. 76.97% of the stock is owned by institutional investors and hedge funds.
Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
Receive News & Ratings for Hope Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.