Hope Bancorp (NASDAQ:HOPE) Hits New 12-Month High – Still a Buy?

Hope Bancorp, Inc. (NASDAQ:HOPE) shares hit a new 52-week high on Thursday . The stock traded as high as $14.49 and last traded at $14.4550, with a volume of 82863 shares trading hands. The stock had previously closed at $14.30.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HOPE shares. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. DA Davidson upped their target price on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Hope Bancorp Stock Up 0.7%

The business has a fifty day moving average price of $13.51 and a two-hundred day moving average price of $12.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.97. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 14.40 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The business had revenue of $147.82 million during the quarter, compared to analysts’ expectations of $146.50 million. During the same period in the previous year, the business posted ($0.22) EPS. On average, equities analysts expect that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, August 6th. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Insider Buying and Selling at Hope Bancorp

In related news, Director Daisy Y. Ha sold 26,995 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total value of $384,408.80. Following the completion of the transaction, the director directly owned 346,120 shares in the company, valued at $4,928,748.80. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hope Bancorp

Several institutional investors and hedge funds have recently modified their holdings of HOPE. Sanctuary Advisors LLC purchased a new stake in shares of Hope Bancorp in the second quarter valued at approximately $904,000. Pinnacle Holdings LLC purchased a new stake in shares of Hope Bancorp during the second quarter worth approximately $930,000. Compass Financial Management LLC acquired a new stake in shares of Hope Bancorp in the second quarter valued at about $56,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Hope Bancorp in the 2nd quarter valued at about $50,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Hope Bancorp in the second quarter valued at approximately $394,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.