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

Key Points

• Analyst sentiment is moderately bullish: Six brokerages give Hope Bancorp a consensus “Moderate Buy” rating, with three buys and three holds. The average 12-month price target is $15.50, above the reported share price of $13.43.
• Quarterly results slightly exceeded expectations: Hope Bancorp 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.
• The company offers a 4.2% dividend yield: Its quarterly dividend is $0.14 per share, or $0.56 annualized, with a 56% payout ratio. Institutional investors own approximately 84% of the stock, while an insider recently sold shares.

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three 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 analysts that have issued ratings on the stock in the last year is $15.50.

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

Insider Buying and Selling

In other Hope Bancorp news, Director Daisy Ha sold 26,995 shares of the business's stock in a transaction dated 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 directly owned 346,120 shares in the company, valued at $4,928,748.80. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.27% of the company's stock.

Institutional Trading of Hope Bancorp

A number of large investors have recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in shares of Hope Bancorp during the 3rd quarter valued at $25,000. Farther Finance Advisors LLC grew its stake in shares of Hope Bancorp by 210.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,514 shares of the financial services provider's stock worth $33,000 after acquiring an additional 1,703 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Hope Bancorp during the 2nd quarter worth $34,000. Global Retirement Partners LLC purchased a new stake in Hope Bancorp in the 2nd quarter worth about $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Hope Bancorp in the 2nd quarter worth about $36,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

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

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The company had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. During the same period last year, the firm earned ($0.22) earnings per share. Equities research analysts forecast that Hope Bancorp will post 1.14 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Thursday, August 6th. Hope Bancorp's payout ratio is presently 56.00%.

Hope Bancorp Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.