Hope Bancorp (NASDAQ:HOPE) had its target price decreased by analysts at DA Davidson from $22.00 to $20.00 in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target would suggest a potential upside of 15.47% from the company’s previous close.
HOPE has been the subject of several other reports. Zacks Investment Research upgraded Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Tuesday, December 26th. ValuEngine lowered Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Piper Jaffray reiterated a “hold” rating and issued a $22.00 price objective on shares of Hope Bancorp in a research report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Hope Bancorp has a consensus rating of “Hold” and an average price target of $19.75.
Shares of Hope Bancorp stock traded down $0.77 during trading on Wednesday, hitting $17.32. 1,359,191 shares of the company were exchanged, compared to its average volume of 536,074. The firm has a market capitalization of $2,482.65, a P/E ratio of 14.20, a PEG ratio of 1.16 and a beta of 1.32. Hope Bancorp has a 1-year low of $17.14 and a 1-year high of $19.86. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.65.
Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, April 17th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The company had revenue of $139.92 million during the quarter, compared to analyst estimates of $140.35 million. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. research analysts anticipate that Hope Bancorp will post 1.57 EPS for the current fiscal year.
In related news, EVP Jason K. Kim sold 10,406 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $18.29, for a total value of $190,325.74. Following the completion of the transaction, the executive vice president now directly owns 42,964 shares in the company, valued at approximately $785,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jason K. Kim sold 10,518 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $18.83, for a total value of $198,053.94. Following the completion of the transaction, the executive vice president now owns 42,964 shares of the company’s stock, valued at $809,012.12. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zeke Capital Advisors LLC acquired a new position in shares of Hope Bancorp in the 4th quarter valued at approximately $199,000. Gotham Asset Management LLC acquired a new position in Hope Bancorp during the 4th quarter worth approximately $203,000. Raymond James Financial Services Advisors Inc. acquired a new position in Hope Bancorp during the 4th quarter worth approximately $214,000. Stone Ridge Asset Management LLC acquired a new position in Hope Bancorp during the 4th quarter worth approximately $227,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Hope Bancorp during the 4th quarter worth approximately $244,000. Institutional investors and hedge funds own 83.42% of the company’s stock.
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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.
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