Sandler O’Neill Analysts Give Hope Bancorp (HOPE) a $16.00 Price Target

Sandler O’Neill set a $16.00 price target on Hope Bancorp (NASDAQ:HOPE) in a research note issued to investors on Wednesday morning. The brokerage currently has a hold rating on the financial services provider’s stock.

Several other research firms have also recently commented on HOPE. ValuEngine cut shares of Hope Bancorp from a hold rating to a sell rating in a report on Wednesday, September 12th. Zacks Investment Research upgraded shares of Hope Bancorp from a strong sell rating to a hold rating in a report on Wednesday, June 20th. Finally, Wedbush restated a neutral rating and set a $18.00 price target (down from $19.00) on shares of Hope Bancorp in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Hope Bancorp has an average rating of Hold and an average target price of $18.25.

Shares of NASDAQ:HOPE opened at $14.39 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 0.96. Hope Bancorp has a 12-month low of $14.35 and a 12-month high of $19.86. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.01 and a beta of 1.37.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. The company had revenue of $136.60 million for the quarter, compared to the consensus estimate of $141.01 million. During the same period in the previous year, the business earned $0.33 EPS. The company’s revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Hope Bancorp will post 1.46 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 26th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, October 25th. Hope Bancorp’s dividend payout ratio is currently 45.90%.

In related news, EVP David Lee Song sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total value of $88,750.00. Following the completion of the sale, the executive vice president now directly owns 4,023 shares in the company, valued at $71,408.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald Byun sold 40,456 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total transaction of $721,735.04. Following the completion of the sale, the director now owns 35,170 shares of the company’s stock, valued at $627,432.80. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Hope Bancorp by 9.0% in the second quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock worth $328,490,000 after purchasing an additional 1,527,125 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Hope Bancorp by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,213,335 shares of the financial services provider’s stock worth $164,275,000 after purchasing an additional 593,266 shares in the last quarter. LSV Asset Management boosted its holdings in Hope Bancorp by 43.7% in the second quarter. LSV Asset Management now owns 4,071,026 shares of the financial services provider’s stock worth $72,586,000 after purchasing an additional 1,237,072 shares in the last quarter. Northern Trust Corp boosted its holdings in Hope Bancorp by 0.8% in the second quarter. Northern Trust Corp now owns 3,170,038 shares of the financial services provider’s stock worth $56,523,000 after purchasing an additional 25,887 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in Hope Bancorp by 4.5% in the second quarter. Pzena Investment Management LLC now owns 3,018,616 shares of the financial services provider’s stock worth $53,822,000 after purchasing an additional 131,235 shares in the last quarter. Hedge funds and other institutional investors own 89.99% of the company’s stock.

About Hope Bancorp

Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.

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Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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