Hope Bancorp (NASDAQ:HOPE) Sets New 1-Year High – Still a Buy?

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) hit a new 52-week high on Friday . The company traded as high as $12.79 and last traded at $12.7650, with a volume of 432510 shares trading hands. The stock had previously closed at $12.26.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HOPE shares. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. Brean Capital upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Keefe, Bruyette & Woods boosted their price target on shares of Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Monday, April 6th. Finally, DA Davidson reiterated a “buy” rating and set a $14.50 price target on shares of Hope Bancorp in a report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.25.

Hope Bancorp Stock Performance

The firm’s 50-day moving average is $11.58 and its 200 day moving average is $11.24. The stock has a market cap of $1.60 billion, a PE ratio of 27.24 and a beta of 0.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.97 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. Hope Bancorp had a net margin of 5.81% and a return on equity of 5.09%. The firm had revenue of $145.76 million during the quarter, compared to the consensus estimate of $142.90 million. During the same quarter in the prior year, the firm earned $0.20 EPS. Hope Bancorp’s revenue for the quarter was up 23.6% on a year-over-year basis. As a group, research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $0.14 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.56 annualized dividend and a yield of 4.5%. Hope Bancorp’s dividend payout ratio is 121.74%.

Insider Buying and Selling

In related news, Director Daisy Y. Ha sold 31,020 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $12.48, for a total value of $387,129.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.16% of the stock is currently owned by company insiders.

Institutional Trading of Hope Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new stake in Hope Bancorp in the 4th quarter valued at $28,000. International Assets Investment Management LLC purchased a new stake in Hope Bancorp in the 4th quarter valued at $29,000. Geneos Wealth Management Inc. raised its position in Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 2,558 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Hope Bancorp by 375.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 2,862 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Hope Bancorp by 61.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.