Hope Bancorp, Inc. (HOPE) Receives $19.30 Consensus PT from Analysts

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have earned an average rating of “Hold” from the nine analysts that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $19.30.

A number of research analysts have commented on HOPE shares. ValuEngine upgraded Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods restated a “hold” rating and set a $17.50 price objective on shares of Hope Bancorp in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. FIG Partners cut Hope Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $20.00 to $17.00 in a research note on Friday, September 15th. Finally, DA Davidson restated a “buy” rating and set a $21.00 price objective on shares of Hope Bancorp in a research note on Monday, September 18th.

In other Hope Bancorp news, EVP Jason K. Kim sold 6,000 shares of the company’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 value of $113,820.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares in the company, valued at $1,341,729.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Lee Song sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total value of $57,750.00. The disclosure for this sale can be found here. Insiders have sold 121,981 shares of company stock valued at $2,303,614 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Hope Bancorp by 0.3% in the second quarter. BlackRock Inc. now owns 15,820,716 shares of the financial services provider’s stock worth $295,054,000 after purchasing an additional 51,366 shares during the period. Vanguard Group Inc. lifted its position in shares of Hope Bancorp by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 12,011,407 shares of the financial services provider’s stock valued at $224,013,000 after acquiring an additional 145,101 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Hope Bancorp by 12.6% during 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 acquiring an additional 960,796 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hope Bancorp by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,801,510 shares of the financial services provider’s stock valued at $138,164,000 after acquiring an additional 303,779 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Hope Bancorp by 0.9% during the 2nd quarter. State Street Corp now owns 4,811,337 shares of the financial services provider’s stock valued at $89,732,000 after acquiring an additional 43,135 shares during the last quarter. Hedge funds and other institutional investors own 80.58% of the company’s stock.

Hope Bancorp (NASDAQ:HOPE) traded up $0.26 during mid-day trading on Friday, reaching $19.02. The company’s stock had a trading volume of 455,188 shares, compared to its average volume of 481,869. Hope Bancorp has a 1 year low of $17.14 and a 1 year high of $19.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $2,580.00, a P/E ratio of 15.38, a PEG ratio of 1.56 and a beta of 1.39.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million during the quarter, compared to the consensus estimate of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same quarter in the previous year, the business earned $0.22 earnings per share. equities analysts predict that Hope Bancorp will post 1.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, October 30th. Hope Bancorp’s dividend payout ratio (DPR) is presently 43.70%.

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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.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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