Hope Bancorp, Inc. (NASDAQ:HOPE)‘s stock had its “market perform” rating reaffirmed by equities researchers at Raymond James Financial, Inc. in a research note issued on Thursday, November 2nd, Marketbeat.com reports.
A number of other research analysts have also weighed in on HOPE. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, July 12th. FIG Partners downgraded shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a report on Wednesday, July 26th. ValuEngine downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price objective on shares of Hope Bancorp in a report on Thursday, September 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $21.00 price objective on shares of Hope Bancorp in a report on Monday, September 18th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.58.
Shares of Hope Bancorp (NASDAQ HOPE) traded up $0.16 during trading on Thursday, reaching $17.38. 441,300 shares of the company were exchanged, compared to its average volume of 540,000. The stock has a market cap of $2,348.19, a price-to-earnings ratio of 14.20, a PEG ratio of 1.44 and a beta of 1.40. Hope Bancorp has a 1 year low of $17.22 and a 1 year high of $17.51. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million for the quarter, compared to analyst estimates of $137.93 million. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. During the same period last year, the company posted $0.22 EPS. equities analysts anticipate that Hope Bancorp will post 1.2 EPS for the current fiscal year.
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In other news, CFO Alex Ko sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $18.92, for a total transaction of $756,800.00. Following the completion of the sale, the chief financial officer now owns 10,088 shares in the company, valued at approximately $190,864.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason K. Kim sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $18.97, for a total transaction of $113,820.00. Following the sale, the executive vice president now owns 70,729 shares of the company’s stock, valued at approximately $1,341,729.13. The disclosure for this sale can be found here. Insiders have sold a total of 162,174 shares of company stock valued at $2,808,891 in the last 90 days. Insiders own 5.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HOPE. BlackRock Inc. increased its holdings in shares of Hope Bancorp by 49,191.5% during the 1st quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock worth $302,299,000 after buying an additional 15,737,358 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Hope Bancorp by 295.1% in the 2nd quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock valued at $72,381,000 after purchasing an additional 2,898,811 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock valued at $151,931,000 after purchasing an additional 960,796 shares during the last quarter. Vanguard Group Inc. increased its holdings in Hope Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock valued at $227,477,000 after purchasing an additional 608,014 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new stake in Hope Bancorp in the 2nd quarter valued at approximately $10,205,000. Institutional investors and hedge funds own 77.06% of the company’s stock.
About Hope Bancorp
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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