Hope Bancorp Inc (NASDAQ:HOPE) hit a new 52-week low on Thursday . The company traded as low as $15.89 and last traded at $15.97, with a volume of 36869 shares trading hands. The stock had previously closed at $16.15.
HOPE has been the subject of a number of research reports. ValuEngine cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Wednesday, September 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $18.00 price objective (down from $19.00) on shares of Hope Bancorp in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.50.
The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 1.10 and a beta of 1.37.
Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). The company had revenue of $138.09 million during the quarter, compared to analysts’ expectations of $139.60 million. Hope Bancorp had a net margin of 23.76% and a return on equity of 9.68%. During the same quarter last year, the business posted $0.30 earnings per share. Research analysts predict that Hope Bancorp Inc will post 1.47 EPS for the current fiscal year.
In related news, EVP David Lee Song sold 5,000 shares of Hope Bancorp stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $17.75, for a total value of $88,750.00. Following the completion of the transaction, the executive vice president now directly owns 4,023 shares in the company, valued at $71,408.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donald Byun sold 40,456 shares of Hope Bancorp stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $17.84, for a total value of $721,735.04. Following the completion of the transaction, the director now owns 35,170 shares of the company’s stock, valued at $627,432.80. The disclosure for this sale can be found here. Company insiders own 5.06% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Systematic Financial Management LP boosted its holdings in Hope Bancorp by 11.4% in the second quarter. Systematic Financial Management LP now owns 730,813 shares of the financial services provider’s stock valued at $13,030,000 after purchasing an additional 74,574 shares during the period. First Trust Advisors LP boosted its holdings in Hope Bancorp by 4.1% in the second quarter. First Trust Advisors LP now owns 248,870 shares of the financial services provider’s stock valued at $4,437,000 after purchasing an additional 9,795 shares during the period. Hartford Investment Management Co. purchased a new position in Hope Bancorp in the second quarter valued at $257,000. BlackRock Inc. boosted its holdings in Hope Bancorp by 9.0% in the second quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock valued at $328,490,000 after purchasing an additional 1,527,125 shares during the period. Finally, Macquarie Group Ltd. boosted its holdings in Hope Bancorp by 11.7% in the second quarter. Macquarie Group Ltd. now owns 2,450,766 shares of the financial services provider’s stock valued at $43,697,000 after purchasing an additional 256,255 shares during the period. Hedge funds and other institutional investors own 90.09% of the company’s stock.
Hope Bancorp Company Profile (NASDAQ:HOPE)
Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.
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