ValuEngine upgraded shares of Hope Bancorp (NASDAQ:HOPE) from a hold rating to a buy rating in a research note published on Friday.
Several other brokerages have also commented on HOPE. Keefe, Bruyette & Woods restated a hold rating and issued a $18.50 price objective on shares of Hope Bancorp in a report on Thursday, October 26th. Raymond James Financial reiterated a market perform rating on shares of Hope Bancorp in a report on Thursday, November 2nd. 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 lowered shares of Hope Bancorp from an outperform rating to a market perform rating and lowered their target price for the company from $20.00 to $17.00 in a report on Friday, September 15th. Finally, DA Davidson reiterated a buy rating and set a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $19.58.
Shares of Hope Bancorp (NASDAQ:HOPE) traded up $0.04 on Friday, reaching $18.76. 522,400 shares of the company’s stock traded hands, compared to its average volume of 484,100. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Hope Bancorp has a twelve month low of $17.14 and a twelve month high of $19.42. The stock has a market capitalization of $2,541.95, a price-to-earnings ratio of 15.38, a PEG ratio of 1.56 and a beta of 1.39.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $139.51 million during the quarter, compared to analyst estimates of $137.93 million. During the same period last year, the business posted $0.22 earnings per share. analysts anticipate that Hope Bancorp will post 1.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.77%. Hope Bancorp’s payout ratio is 43.33%.
In related news, CFO Alex Ko sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were 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 directly owns 10,088 shares in the company, valued at approximately $190,864.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total transaction of $57,750.00. The disclosure for this sale can be found here. Insiders have sold 121,981 shares of company stock valued at $2,303,614 over the last quarter. Company insiders own 5.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings 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 acquiring an additional 51,366 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 acquiring an additional 145,101 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings 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 acquiring an additional 960,796 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Hope Bancorp by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,801,510 shares of the financial services provider’s stock worth $138,164,000 after acquiring an additional 303,779 shares during the last quarter. Finally, State Street Corp raised its holdings 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 acquiring an additional 43,135 shares during the last quarter. Institutional investors own 80.58% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Hope Bancorp (HOPE) Raised to “Buy” at ValuEngine” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/12/04/hope-bancorp-hope-raised-to-buy-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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 MarketBeat.com's FREE daily email newsletter.