Bank of Hope (HOPE) Cut to Sell at ValuEngine

ValuEngine lowered shares of Bank of Hope (NASDAQ:HOPE) from a hold rating to a sell rating in a report issued on Monday.

A number of other research firms also recently commented on HOPE. Zacks Investment Research raised Bank of Hope from a sell rating to a hold rating in a research note on Friday. DA Davidson downgraded Bank of Hope from a buy rating to a neutral rating and set a $20.00 target price for the company. in a research note on Wednesday, May 30th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Bank of Hope presently has an average rating of Hold and a consensus price target of $19.75.

Bank of Hope opened at $18.30 on Monday, Marketbeat Ratings reports. The stock has a market capitalization of $2.52 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.23 and a beta of 1.35. Bank of Hope has a 52 week low of $17.03 and a 52 week high of $19.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.03 and a quick ratio of 1.03.

Bank of Hope (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, April 17th. The financial services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $139.92 million during the quarter, compared to the consensus estimate of $140.35 million. Bank of Hope had a return on equity of 9.35% and a net margin of 23.46%. Bank of Hope’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. sell-side analysts predict that Bank of Hope will post 1.51 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky raised its stake in Bank of Hope by 2.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 115,136 shares of the financial services provider’s stock worth $2,102,000 after acquiring an additional 2,786 shares in the last quarter. Rhumbline Advisers raised its stake in Bank of Hope by 0.9% during the first quarter. Rhumbline Advisers now owns 340,372 shares of the financial services provider’s stock worth $6,191,000 after acquiring an additional 3,124 shares in the last quarter. Flinton Capital Management LLC raised its stake in Bank of Hope by 21.4% during the fourth quarter. Flinton Capital Management LLC now owns 21,420 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 3,774 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Bank of Hope by 39.2% during the fourth quarter. Pinnacle Associates Ltd. now owns 15,100 shares of the financial services provider’s stock worth $276,000 after acquiring an additional 4,250 shares in the last quarter. Finally, Swiss National Bank raised its stake in Bank of Hope by 2.3% during the fourth quarter. Swiss National Bank now owns 216,657 shares of the financial services provider’s stock worth $3,954,000 after acquiring an additional 4,800 shares in the last quarter. 84.43% of the stock is owned by hedge funds and other institutional investors.

About Bank of Hope

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Bank of Hope (NASDAQ:HOPE)

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