Hope Bancorp, Inc. (NASDAQ:HOPE) Receives Consensus Rating of “Hold” from Brokerages

Hope Bancorp, Inc. (NASDAQ:HOPE) has been assigned an average recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $20.67.

HOPE has been the topic of a number of research analyst reports. FIG Partners raised shares of Hope Bancorp from a “market perform” rating to an “outperform” rating in a report on Friday, May 19th. BidaskClub raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 30th. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Hope Bancorp and gave the company a “hold” rating in a report on Tuesday, April 4th. Finally, Piper Jaffray Companies dropped their price objective on shares of Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 30th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund boosted its position in Hope Bancorp by 0.8% in the second quarter. Texas Permanent School Fund now owns 92,823 shares of the financial services provider’s stock valued at $1,731,000 after buying an additional 781 shares during the period. Rothschild Asset Management Inc. boosted its position in Hope Bancorp by 26.2% in the second quarter. Rothschild Asset Management Inc. now owns 325,290 shares of the financial services provider’s stock valued at $6,067,000 after buying an additional 67,565 shares during the period. Great West Life Assurance Co. Can boosted its position in Hope Bancorp by 3.8% in the second quarter. Great West Life Assurance Co. Can now owns 183,404 shares of the financial services provider’s stock valued at $3,418,000 after buying an additional 6,662 shares during the period. Hanson & Doremus Investment Management boosted its position in Hope Bancorp by 0.7% in the second quarter. Hanson & Doremus Investment Management now owns 11,870 shares of the financial services provider’s stock valued at $221,000 after buying an additional 85 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Hope Bancorp by 3.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 30,011 shares of the financial services provider’s stock valued at $560,000 after buying an additional 970 shares during the period. Institutional investors own 78.23% of the company’s stock.

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Shares of Hope Bancorp (NASDAQ:HOPE) traded down 1.19% during trading on Tuesday, hitting $17.44. 390,693 shares of the stock traded hands. Hope Bancorp has a 1-year low of $15.00 and a 1-year high of $22.99. The stock has a 50 day moving average price of $18.58 and a 200-day moving average price of $19.49. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 15.93 and a beta of 1.41.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.02. The company had revenue of $132.94 million during the quarter, compared to analysts’ expectations of $136.80 million. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. Equities analysts forecast that Hope Bancorp will post $1.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, July 27th. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 2.98%. Hope Bancorp’s dividend payout ratio is currently 47.71%.

Hope Bancorp Company Profile

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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