Hope Bancorp, Inc. (NASDAQ:HOPE) Given Average Rating of "Hold" by Brokerages

Key Points

• Hope Bancorp has an average analyst rating of "Hold" from five brokerages, with a 12-month price target average of $14.50. Recent analyst actions were mixed, including upgrades from Brean Capital and DA Davidson as well as a downgrade from Weiss Ratings.
• The company reported Q1 earnings of $0.23 per share, edging past consensus estimates, but revenue of $126.69 million fell short of expectations. Revenue still rose 21% year over year, and analysts expect $1.13 EPS for the current fiscal year.
• Hope Bancorp also announced a quarterly dividend of $0.14 per share, equal to a 4.5% yield. However, the payout ratio is 107.69%, and a director recently sold 12,000 shares in an insider transaction.

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) have been given an average recommendation of "Hold" by the five ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $14.50.

A number of analysts recently weighed in on HOPE shares. Brean Capital raised shares of Hope Bancorp from a "neutral" rating to a "buy" rating in a report on Wednesday, April 1st. DA Davidson increased their price target on shares of Hope Bancorp from $14.50 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings cut Hope Bancorp from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Keefe, Bruyette & Woods raised their price objective 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, Zacks Research upgraded Hope Bancorp from a "strong sell" rating to a "hold" rating in a research note on Tuesday, March 31st.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $12.38 on Thursday. The company has a 50 day moving average of $11.82 and a 200-day moving average of $11.49. Hope Bancorp has a 1-year low of $9.44 and a 1-year high of $13.02. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 23.81 and a beta of 0.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The company had revenue of $126.69 million for the quarter, compared to analyst estimates of $145.30 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business's revenue was up 21.0% on a year-over-year basis. On average, equities analysts forecast that Hope Bancorp will post 1.13 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 4.5%. Hope Bancorp's dividend payout ratio is 107.69%.

Insider Buying and Selling at Hope Bancorp

In related news, Director Daisy Y. Ha sold 12,000 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total value of $150,360.00. Following the completion of the transaction, the director directly owned 373,115 shares of the company's stock, valued at approximately $4,675,130.95. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.27% of the company's stock.

Institutional Trading of Hope Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of HOPE. Wellington Management Group LLP lifted its holdings in Hope Bancorp by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider's stock valued at $122,089,000 after purchasing an additional 303,019 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Hope Bancorp by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider's stock worth $82,298,000 after buying an additional 315,028 shares in the last quarter. State Street Corp increased its position in shares of Hope Bancorp by 3.3% in the second quarter. State Street Corp now owns 6,494,266 shares of the financial services provider's stock worth $69,683,000 after purchasing an additional 209,442 shares during the period. American Century Companies Inc. increased its holdings in Hope Bancorp by 6.3% in the 3rd quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider's stock valued at $34,411,000 after buying an additional 188,182 shares during the period. Finally, HoldCo Asset Management LP acquired a new position in Hope Bancorp during the fourth quarter valued at approximately $32,838,000. 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.

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