DA Davidson Cuts Hope Bancorp (NASDAQ:HOPE) Price Target to $14.50

Hope Bancorp (NASDAQ:HOPE) had its target price trimmed by DA Davidson from $15.50 to $14.50 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Hope Bancorp’s Q1 2025 earnings at $0.17 EPS and FY2025 earnings at $1.32 EPS.

Separately, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.88.

Hope Bancorp Trading Up 0.7 %

Shares of HOPE opened at $11.76 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $12.60 and its two-hundred day moving average is $12.64. The stock has a market cap of $1.42 billion, a PE ratio of 14.00 and a beta of 1.16. Hope Bancorp has a 52-week low of $9.80 and a 52-week high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. Research analysts forecast that Hope Bancorp will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 4.76%. Hope Bancorp’s payout ratio is currently 66.67%.

Insider Buying and Selling

In other news, Director Steven Koh sold 96,620 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the transaction, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares of the company’s stock, valued at approximately $280,297.20. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,224 shares of company stock valued at $1,737,873. Corporate insiders own 5.29% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its stake in Hope Bancorp by 1.9% in the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after buying an additional 112,824 shares during the last quarter. Wellington Management Group LLP increased its stake in Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after acquiring an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock valued at $35,703,000 after buying an additional 48,237 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hope Bancorp by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock valued at $29,468,000 after acquiring an additional 33,689 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Hope Bancorp by 47.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after buying an additional 337,599 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.