Hope Bancorp (NASDAQ:HOPE) Stock Rating Upgraded by StockNews.com

Hope Bancorp (NASDAQ:HOPE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other analysts have also recently weighed in on HOPE. Piper Sandler dropped their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. DA Davidson decreased their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a report on Tuesday, January 28th.

Hope Bancorp Stock Performance

HOPE stock traded up $0.42 during trading hours on Monday, reaching $10.57. The stock had a trading volume of 1,326,273 shares, compared to its average volume of 824,021. The stock has a market capitalization of $1.28 billion, a PE ratio of 12.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a 50-day simple moving average of $10.03 and a 200 day simple moving average of $11.55. Hope Bancorp has a fifty-two week low of $8.83 and a fifty-two week high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $217.17 million during the quarter, compared to analysts' expectations of $114.97 million. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. During the same quarter last year, the company posted $0.23 EPS. Analysts predict that Hope Bancorp will post 1.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its stake in shares of Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after buying an additional 848 shares during the period. Cresset Asset Management LLC increased its stake in shares of Hope Bancorp by 0.8% during the fourth quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider's stock valued at $1,459,000 after buying an additional 977 shares during the period. KBC Group NV increased its stake in shares of Hope Bancorp by 16.6% during the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,176 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Hope Bancorp by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 72,836 shares of the financial services provider's stock valued at $763,000 after buying an additional 1,233 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Hope Bancorp by 181.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,553 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.

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