Hope Bancorp (NASDAQ:HOPE) PT Lowered to $12.00 at Keefe, Bruyette & Woods

Hope Bancorp (NASDAQ:HOPE) had its target price decreased by Keefe, Bruyette & Woods from $13.00 to $12.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded Hope Bancorp from a sell rating to a hold rating in a report on Saturday, January 6th. DA Davidson raised Hope Bancorp from a neutral rating to a buy rating and set a $12.50 price objective on the stock in a research note on Tuesday. Finally, Wedbush decreased their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a neutral rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $11.83.

Hope Bancorp Stock Up 2.3 %

Shares of HOPE opened at $10.25 on Wednesday. Hope Bancorp has a 52 week low of $7.42 and a 52 week high of $12.51. The stock has a fifty day moving average of $10.90 and a 200-day moving average of $10.75. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.05 and a current ratio of 1.00. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.25 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The firm had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. During the same quarter last year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Hope Bancorp will post 1.05 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp’s payout ratio is 56.00%.

Institutional Trading of Hope Bancorp

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its stake in Hope Bancorp by 39.1% in the first quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 2,513 shares in the last quarter. Drive Wealth Management LLC bought a new position in Hope Bancorp in the first quarter worth approximately $116,000. QRG Capital Management Inc. acquired a new stake in Hope Bancorp in the third quarter valued at approximately $132,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Hope Bancorp by 8.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,033 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Hope Bancorp by 46.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 5,034 shares in 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 Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.