Hope Bancorp (HOPE) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Hope Bancorp (NASDAQ:HOPE) from a buy rating to a hold rating in a report published on Friday morning.

HOPE has been the topic of several other research reports. Zacks Investment Research upgraded Hope Bancorp from a hold rating to a buy rating and set a $21.00 price target on the stock in a research note on Tuesday, December 26th. Raymond James Financial restated a market perform rating on shares of Hope Bancorp in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods restated a hold rating and set a $18.50 price target on shares of Hope Bancorp in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies restated a hold rating and set a $22.00 price target on shares of Hope Bancorp in a research note on Tuesday, January 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Hope Bancorp has a consensus rating of Hold and an average price target of $19.92.

Hope Bancorp (NASDAQ HOPE) opened at $18.59 on Friday. The company has a market capitalization of $2,519.17, a price-to-earnings ratio of 18.05, a PEG ratio of 1.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 1.07. Hope Bancorp has a 52 week low of $17.14 and a 52 week high of $19.86.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $142.84 million for the quarter, compared to analyst estimates of $139.26 million. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. analysts forecast that Hope Bancorp will post 1.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 19th. Shareholders of record on Monday, February 5th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.52 annualized dividend and a yield of 2.80%. Hope Bancorp’s dividend payout ratio (DPR) is presently 50.49%.

In other Hope Bancorp news, Director Steven Koh sold 10,000 shares of Hope Bancorp stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $17.95, for a total value of $179,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP David Lee Song sold 3,000 shares of Hope Bancorp stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total value of $57,750.00. The disclosure for this sale can be found here. Insiders sold 60,833 shares of company stock worth $1,156,600 in the last quarter. 5.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of HOPE. Fuller & Thaler Asset Management Inc. grew its stake in Hope Bancorp by 12.6% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock valued at $151,931,000 after purchasing an additional 960,796 shares during the last quarter. Principal Financial Group Inc. grew its stake in Hope Bancorp by 14.8% in the third quarter. Principal Financial Group Inc. now owns 4,457,274 shares of the financial services provider’s stock valued at $78,939,000 after purchasing an additional 576,268 shares during the last quarter. Phocas Financial Corp. purchased a new position in Hope Bancorp in the second quarter valued at about $10,205,000. LSV Asset Management grew its stake in Hope Bancorp by 52.3% in the fourth quarter. LSV Asset Management now owns 1,487,977 shares of the financial services provider’s stock valued at $27,155,000 after purchasing an additional 510,674 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Hope Bancorp in the fourth quarter valued at about $6,011,000. Institutional investors own 80.71% of the company’s stock.

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Hope Bancorp Company Profile

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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