Hope Bancorp (NASDAQ:HOPE) Upgraded by Brean Capital to Buy Rating

Hope Bancorp (NASDAQ:HOPE) was upgraded by equities research analysts at Brean Capital from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

A number of other research analysts have also weighed in on the stock. Zacks Research lowered shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of 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 report on Monday, December 29th. Finally, DA Davidson reaffirmed a “buy” rating and set a $14.50 price objective on shares of Hope Bancorp in a research report on Wednesday, January 28th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hope Bancorp has an average rating of “Hold” and a consensus price target of $13.75.

Hope Bancorp Trading Up 4.8%

NASDAQ:HOPE traded up $0.54 on Wednesday, reaching $11.71. The company’s stock had a trading volume of 2,023,599 shares, compared to its average volume of 936,204. Hope Bancorp has a 1-year low of $8.82 and a 1-year high of $12.79. The business’s 50-day moving average price is $11.60 and its two-hundred day moving average price is $11.14. The firm has a market cap of $1.50 billion, a PE ratio of 25.45 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.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The company had revenue of $145.76 million for the quarter, compared to analyst estimates of $142.90 million. During the same quarter last year, the firm posted $0.20 earnings per share. Hope Bancorp’s revenue was up 23.6% compared to the same quarter last year. Equities research analysts anticipate that Hope Bancorp will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Hope Bancorp

In other news, Director Daisy Y. Ha sold 31,020 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was 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 this hyperlink. 5.16% of the stock is currently owned by corporate insiders.

Institutional Trading of Hope Bancorp

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Hope Bancorp in the 4th quarter worth about $28,000. International Assets Investment Management LLC acquired a new position in shares of Hope Bancorp during the 4th quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 2,558 shares during the period. Rockefeller Capital Management L.P. raised its position in shares of 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 buying an additional 2,862 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Hope Bancorp by 61.0% during the third quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock worth $43,000 after buying an additional 1,503 shares in the last quarter. Institutional investors and hedge funds 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.