Hope Bancorp, Inc. (NASDAQ:HOPE) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately positive: Hope Bancorp received a “Moderate Buy” consensus from five analysts, with three buys and two holds. The average 12-month price target is $15.50, above the reported $13.78 share price.
• Quarterly results exceeded expectations: The company reported earnings of $0.27 per share versus the $0.26 consensus estimate, while revenue reached $147.82 million compared with expectations of $146.50 million.
• Hope Bancorp maintains an income-oriented profile: The company paid a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 dividend and a 4.1% yield. Institutional investors own approximately 84% of the stock.

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) has earned an average recommendation of "Moderate Buy" from the five ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.50.

Several equities research analysts have issued reports on the stock. DA Davidson boosted their price objective on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Hope Bancorp from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $14.00 to $15.00 and gave the company a "hold" rating in a report on Monday, August 3rd.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Ha sold 26,995 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $14.24, for a total transaction of $384,408.80. Following the transaction, the director owned 346,120 shares of the company's stock, valued at approximately $4,928,748.80. This represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.27% of the company's stock.

Institutional Trading of Hope Bancorp

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Hope Bancorp during the second quarter worth $252,703,000. Wellington Management Group LLP increased its holdings in shares of Hope Bancorp by 14.5% in the 2nd quarter. Wellington Management Group LLP now owns 11,438,933 shares of the financial services provider's stock valued at $156,485,000 after acquiring an additional 1,448,931 shares during the period. Bank of America Corp DE purchased a new position in shares of Hope Bancorp in the 2nd quarter valued at $12,098,000. Bank of New York Mellon Corp bought a new position in shares of Hope Bancorp in the 2nd quarter worth $10,384,000. Finally, Empowered Funds LLC bought a new position in shares of Hope Bancorp in the 2nd quarter worth $6,794,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Down 0.3%

NASDAQ:HOPE opened at $13.78 on Wednesday. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.59. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 13.78 and a beta of 0.83. The stock has a fifty day simple moving average of $13.97 and a 200-day simple moving average of $12.89. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. The firm 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 business posted ($0.22) earnings per share. Analysts anticipate that Hope Bancorp will post 1.13 EPS for the current year.

Hope Bancorp Dividend Announcement

The company 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 of this dividend was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a yield of 4.1%. Hope Bancorp's payout ratio is 56.00%.

About Hope Bancorp

Hope Bancorp, Inc is a bank holding company headquartered in Los Angeles, California. Its principal subsidiary, Bank of Hope, provides banking and financial services to businesses, individuals and organizations, with a particular focus on small and middle-market companies and Korean American communities in the United States.

Bank of Hope offers commercial and industrial loans, commercial real estate financing, Small Business Administration loans, residential mortgage loans, consumer lending, deposit accounts and cash-management services.

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