Hope Bancorp, Inc. (NASDAQ:HOPE) Stock Has Average Target Price of $15.50

Hope Bancorp, Inc. (NASDAQ:HOPE) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $15.50.

A number of analysts have weighed in on the stock. Benchmark raised shares of Hope Bancorp to a “hold” rating in a report on Wednesday, September 23rd. DA Davidson lifted their price target on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price objective on shares of Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Ha sold 26,995 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $14.24, for a total transaction of $384,408.80. Following the sale, the director directly owned 346,120 shares in the company, valued at approximately $4,928,748.80. This represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOPE. BlackRock Inc. acquired a new stake in shares of Hope Bancorp in the 2nd quarter worth about $252,703,000. Wellington Management Group LLP grew its position in Hope Bancorp by 14.5% in the 2nd quarter. Wellington Management Group LLP now owns 11,438,933 shares of the financial services provider’s stock worth $156,485,000 after purchasing an additional 1,448,931 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Hope Bancorp in the second quarter valued at approximately $12,098,000. Bank of New York Mellon Corp bought a new stake in shares of Hope Bancorp during the second quarter valued at approximately $10,384,000. Finally, Empowered Funds LLC acquired a new position in shares of Hope Bancorp during the second quarter worth approximately $6,794,000. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $13.44 on Wednesday. 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 company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.44 and a beta of 0.83. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.59. The business has a 50 day simple moving average of $13.96 and a 200-day simple moving average of $12.98.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $147.82 million for the quarter, compared to analysts’ expectations 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 last year, the business posted ($0.22) earnings per share. As a group, equities research analysts expect that Hope Bancorp will post 1.13 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 annualized dividend and a dividend yield of 4.2%. Hope Bancorp’s dividend payout ratio is 56.00%.

About Hope Bancorp

Hope Bancorp, Inc is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Bank of Hope, provides banking and financial services to businesses, individuals and organizations, with a particular focus on small and middle-market companies and Korean American communities in the United States.

Bank of Hope offers commercial and industrial loans, commercial real estate financing, Small Business Administration loans, residential mortgage loans, consumer lending, deposit accounts and cash-management services.