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

Hope Bancorp, Inc. (NASDAQ:HOPE) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.50.

Several analysts have weighed in on HOPE shares. Weiss Ratings cut Hope Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 9th. DA Davidson boosted their price objective on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods boosted their price objective on Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Finally, Benchmark upgraded shares of Hope Bancorp to a “hold” rating in a research report on Wednesday, September 23rd.

Insider Buying and Selling

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

Institutional Trading of Hope Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new stake in shares of Hope Bancorp during the 3rd quarter worth $25,000. Farther Finance Advisors LLC increased its stake in Hope Bancorp by 210.0% in the third quarter. Farther Finance Advisors LLC now owns 2,514 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,703 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Hope Bancorp in the second quarter valued at $34,000. Global Retirement Partners LLC bought a new position in Hope Bancorp in the second quarter valued at $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Hope Bancorp in the second quarter valued at $36,000. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $13.43 on Friday. The company’s 50 day moving average is $13.82 and its 200-day moving average is $13.19. Hope Bancorp has a 12-month low of $9.80 and a 12-month high of $14.59. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.72 billion, a P/E ratio of 13.43 and a beta of 0.87.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $147.82 million for the quarter, compared to analysts’ expectations of $146.50 million. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. During the same period in the prior year, the company posted ($0.22) EPS. Sell-side analysts predict that Hope Bancorp will post 1.14 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. Shareholders of record on Thursday, August 6th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 4.2%. Hope Bancorp’s payout ratio is presently 56.00%.

About Hope Bancorp

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

Bank of Hope offers a range of banking products and services, including business and personal deposit accounts, commercial and residential real estate lending, commercial and industrial loans, Small Business Administration financing, consumer loans and online banking.