Hope Bancorp (NASDAQ:HOPE) Downgraded by Zacks Research to Strong Sell

Hope Bancorp (NASDAQ:HOPE - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Tuesday, Zacks reports.

Several other analysts also recently weighed in on HOPE. Weiss Ratings upgraded Hope Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, October 27th. Benchmark upgraded Hope Bancorp to a "hold" rating in a research report on Wednesday, September 23rd. DA Davidson downgraded Hope Bancorp from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $16.00 to $14.00 in a research note on Friday, October 30th. Piper Sandler dropped their target price on shares of Hope Bancorp from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price target 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. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $14.00.

Hope Bancorp Stock Up 2.5%

NASDAQ HOPE opened at $13.44 on Tuesday. The business has a fifty day moving average price of $13.69 and a two-hundred day moving average price of $12.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.96 and a quick ratio of 0.97. Hope Bancorp has a fifty-two week low of $9.80 and a fifty-two week high of $14.59. The stock has a market capitalization of $1.72 billion, a PE ratio of 12.92 and a beta of 0.90.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $0.29 earnings per share for the quarter, meeting analysts' consensus estimates of $0.29. Hope Bancorp had a return on equity of 5.97% and a net margin of 12.90%. The firm had revenue of $157.48 million for the quarter, compared to the consensus estimate of $151.34 million. During the same quarter last year, the business posted $0.25 EPS. Equities analysts expect that Hope Bancorp will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds have recently modified their holdings of HOPE. Fulcrum Asset Management LLP bought a new position in Hope Bancorp in the 3rd quarter valued at approximately $211,000. Parallel Advisors LLC boosted its position in Hope Bancorp by 24.1% during the 3rd quarter. Parallel Advisors LLC now owns 10,076 shares of the financial services provider's stock worth $134,000 after buying an additional 1,955 shares during the period. Heritage Family Offices LLP bought a new stake in Hope Bancorp during the 3rd quarter worth approximately $42,000. Bridge City Capital LLC grew its holdings in Hope Bancorp by 21.3% during the 3rd quarter. Bridge City Capital LLC now owns 194,606 shares of the financial services provider's stock worth $2,586,000 after acquiring an additional 34,171 shares during the last quarter. Finally, State of Wyoming bought a new stake in Hope Bancorp during the 3rd quarter worth approximately $203,000. Institutional investors and hedge funds own 84.00% of the company's stock.

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.

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