Hope Bancorp, Inc. (NASDAQ:HOPE) Given Consensus Rating of “Moderate Buy” by Brokerages

Hope Bancorp, Inc. (NASDAQ:HOPE) has been given an average rating of “Moderate Buy” by the five analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $15.50.

Several research analysts have issued reports on the company. DA Davidson increased their price objective on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their target price on shares of Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 26,995 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $14.24, for a total value of $384,408.80. Following the completion of the transaction, the director directly owned 346,120 shares of the company’s stock, valued at approximately $4,928,748.80. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.27% of the company’s stock.

Hedge Funds Weigh In On Hope Bancorp

Several hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP raised its holdings in Hope Bancorp by 13.8% during the second quarter. Corient Private Wealth LP now owns 31,521 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 3,831 shares during the last quarter. HighTower Advisors LLC grew its holdings in Hope Bancorp by 18.0% in the second quarter. HighTower Advisors LLC now owns 12,091 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 1,847 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Hope Bancorp in the second quarter valued at $445,000. California State Teachers Retirement System increased its position in shares of Hope Bancorp by 1,454.3% in the second quarter. California State Teachers Retirement System now owns 1,763,530 shares of the financial services provider’s stock valued at $24,125,000 after buying an additional 1,650,066 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new position in shares of Hope Bancorp during the 2nd quarter worth $137,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Price Performance

Shares of HOPE opened at $13.96 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $13.84 and its two-hundred day moving average is $12.67. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.59. The firm has a market capitalization of $1.78 billion, a PE ratio of 13.96 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $147.82 million during the quarter, compared to the consensus estimate of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same period in the prior year, the business posted ($0.22) EPS. Research analysts anticipate that Hope Bancorp will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, August 6th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.