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

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $15.50.

A number of research firms recently commented on HOPE. Weiss Ratings cut shares of Hope Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Keefe, Bruyette & Woods raised their target price on shares of Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. DA Davidson lifted their price target on shares of Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Finally, Benchmark raised Hope Bancorp to a “hold” rating in a research report on Wednesday, September 23rd.

Hope Bancorp Stock Performance

HOPE stock opened at $14.05 on Friday. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 14.05 and a beta of 0.87. The firm has a 50-day simple moving average of $13.78 and a two-hundred day simple moving average of $13.27. Hope Bancorp has a one year low of $9.80 and a one year high of $14.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The business had revenue of $147.82 million for the quarter, compared to analysts’ expectations of $146.50 million. During the same period last year, the business earned ($0.22) EPS. On average, equities analysts forecast that Hope Bancorp will post 1.14 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed 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. This represents a $0.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, August 6th. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Ha sold 26,995 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $14.24, for a total value of $384,408.80. Following the completion of the sale, the director owned 346,120 shares of the company’s stock, valued at $4,928,748.80. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Hope Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC grew its stake in shares of Hope Bancorp by 12.6% during the third quarter. SummerHaven Investment Management LLC now owns 71,603 shares of the financial services provider’s stock worth $899,000 after acquiring an additional 8,040 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Hope Bancorp during the third quarter valued at about $25,000. GAMMA Investing LLC increased its holdings in shares of Hope Bancorp by 21.0% during the third quarter. GAMMA Investing LLC now owns 8,480 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 1,469 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Hope Bancorp by 210.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,514 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,703 shares during the last quarter. Finally, Cim Investment Management Inc. raised its position in shares of Hope Bancorp by 7.3% in the 2nd quarter. Cim Investment Management Inc. now owns 11,743 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 795 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

About Hope Bancorp

Hope Bancorp, Inc is the holding company for Bank of Hope, a full-service commercial bank headquartered in Los Angeles, California. The bank serves businesses, individuals and communities throughout the United States, with a particular focus on Korean American and other multicultural markets.

Bank of Hope offers a range of banking products and services, including business and consumer deposit accounts, commercial and industrial lending, commercial real estate financing, small business loans, residential mortgage lending and wealth management services.