Hope Bancorp (NASDAQ:HOPE – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.
Several other equities analysts have also issued reports on HOPE. DA Davidson reissued a “buy” rating and set a $14.50 target price on shares of Hope Bancorp in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 29th. Finally, Brean Capital raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $13.75.
Read Our Latest Analysis on HOPE
Hope Bancorp Stock Up 4.7%
Hope Bancorp (NASDAQ:HOPE – Get Free Report) last released 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 return on equity of 5.09% and a net margin of 5.81%.The business had revenue of $145.76 million during the quarter, compared to analyst estimates of $142.90 million. During the same period last year, the business posted $0.20 earnings per share. The company’s quarterly revenue was up 23.6% on a year-over-year basis. Research analysts predict that Hope Bancorp will post 1.09 EPS for the current year.
Insider Transactions at Hope Bancorp
In related news, Director Daisy Y. Ha sold 31,020 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.16% of the company’s stock.
Institutional Investors Weigh In On Hope Bancorp
Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in shares of Hope Bancorp in the 4th quarter valued at about $28,000. International Assets Investment Management LLC purchased a new stake in shares of Hope Bancorp during the fourth quarter worth approximately $29,000. Geneos Wealth Management Inc. raised its holdings in Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Hope Bancorp by 375.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 2,862 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Hope Bancorp by 61.0% in the third quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,503 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.
Trending Headlines about Hope Bancorp
Here are the key news stories impacting Hope Bancorp this week:
- Positive Sentiment: Bank of Hope (Hope Bancorp) agreed to buy SMBC Manubank’s U.S. commercial banking unit in an all-cash, accretive deal that expands its commercial presence in Los Angeles and should add loans/deposits and client relationships. Bank of Hope to acquire SMBC Manubank’s commercial unit in L.A. L.A. bank to buy U.S. commercial banking unit from Japan’s SMBC Bank of Hope to buy SMBC commercial unit Bank of Hope to Acquire the Commercial Banking Unit of SMBC MANUBANK
- Positive Sentiment: Q4 results and coverage show improving fundamentals: HOPE reported $0.27 EPS vs. $0.26 consensus and revenue of $145.8M (+23.6% YoY), which supports the stock’s upward move by confirming growth and margin progress. Q4 Earnings Outperformers: Hope Bancorp
- Positive Sentiment: Analyst upgrades have turned more bullish: Brean Capital raised HOPE from Neutral to Buy, which can increase buying interest from institutional and retail investors. Brean Capital upgrade reported
- Neutral Sentiment: Zacks moved HOPE from “strong sell” to “hold” — an improvement in sentiment but still cautious compared with buy-rated firms; this reduces downside risk but isn’t a strong bullish signal. Zacks Research upgrade
- Neutral Sentiment: Market commentary highlights a shifting investment story and a cautious target upgrade — implies analysts are revising assumptions but remain measured about longer-term upside. How The Investment Story For Hope Bancorp Is Shifting
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.
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