Hope Bancorp (NASDAQ:HOPE) Given New $15.00 Price Target at Keefe, Bruyette & Woods

Hope Bancorp (NASDAQ:HOPE) had its price target hoisted by Keefe, Bruyette & Woods from $14.00 to $15.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 5.49% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. DA Davidson increased their price target on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.50.

Hope Bancorp Trading Up 1.5%

NASDAQ:HOPE traded up $0.21 during midday trading on Monday, hitting $14.22. The stock had a trading volume of 498,158 shares, compared to its average volume of 984,553. Hope Bancorp has a one year low of $9.70 and a one year high of $14.28. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 14.21 and a beta of 0.83. The stock has a 50-day moving average of $13.23 and a 200 day moving average of $12.34. The company has a quick ratio of 0.96, a current ratio of 0.98 and a debt-to-equity ratio of 0.25.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $147.82 million for the quarter, compared to the consensus estimate of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same period last year, the business posted ($0.22) EPS. As a group, sell-side analysts forecast that Hope Bancorp will post 1.13 EPS for the current year.

Insider Transactions at Hope Bancorp

In related news, Director Daisy Y. Ha sold 12,000 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total transaction of $150,360.00. Following the transaction, the director directly owned 373,115 shares of the company’s stock, valued at $4,675,130.95. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.27% of the stock is currently owned by insiders.

Institutional Trading of Hope Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in shares of Hope Bancorp in the 4th quarter valued at $28,000. International Assets Investment Management LLC bought a new stake in shares of Hope Bancorp in the 4th quarter valued at about $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after buying an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Hope Bancorp by 375.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after buying an additional 2,862 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,071 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.