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GOOGL   2,580.10 (-0.18%)
AMZN   2,792.75 (+0.55%)
TSLA   829.10 (-11.55%)
NVDA   219.44 (-3.64%)
BABA   111.79 (-1.39%)
NIO   21.11 (-6.84%)
AMD   102.60 (-7.33%)
CGC   6.85 (-5.26%)
MU   78.72 (-3.96%)
GE   89.90 (+0.65%)
T   24.12 (-0.54%)
F   19.55 (-1.81%)
DIS   135.42 (+1.36%)
AMC   14.52 (-8.91%)
PFE   53.37 (+0.68%)
ACB   3.79 (-6.65%)
BA   189.75 (-2.33%)
QQQ   341.10 (-1.01%)
AAPL   159.22 (-0.29%)
MSFT   299.84 (+1.05%)
FB   294.64 (+0.00%)
GOOGL   2,580.10 (-0.18%)
AMZN   2,792.75 (+0.55%)
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NVDA   219.44 (-3.64%)
BABA   111.79 (-1.39%)
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AMD   102.60 (-7.33%)
CGC   6.85 (-5.26%)
MU   78.72 (-3.96%)
GE   89.90 (+0.65%)
T   24.12 (-0.54%)
F   19.55 (-1.81%)
DIS   135.42 (+1.36%)
AMC   14.52 (-8.91%)
PFE   53.37 (+0.68%)
ACB   3.79 (-6.65%)
BA   189.75 (-2.33%)
QQQ   341.10 (-1.01%)
AAPL   159.22 (-0.29%)
MSFT   299.84 (+1.05%)
FB   294.64 (+0.00%)
GOOGL   2,580.10 (-0.18%)
AMZN   2,792.75 (+0.55%)
TSLA   829.10 (-11.55%)
NVDA   219.44 (-3.64%)
BABA   111.79 (-1.39%)
NIO   21.11 (-6.84%)
AMD   102.60 (-7.33%)
CGC   6.85 (-5.26%)
MU   78.72 (-3.96%)
GE   89.90 (+0.65%)
T   24.12 (-0.54%)
F   19.55 (-1.81%)
DIS   135.42 (+1.36%)
AMC   14.52 (-8.91%)
PFE   53.37 (+0.68%)
ACB   3.79 (-6.65%)
BA   189.75 (-2.33%)

Hope Bancorp (NASDAQ:HOPE) Upgraded to Buy by Zacks Investment Research

Wednesday, December 29, 2021 | MarketBeat

Hope Bancorp (NASDAQ:HOPE) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The brokerage presently has a $16.00 target price on the financial services provider's stock. Zacks Investment Research's price objective suggests a potential upside of 9.14% from the stock's current price.

According to Zacks, "Hope Bancorp Inc. operates as the bank holding company which provides commercial banking services primarily to small- to medium-sized businesses and individuals primarily in the United States. Its product and services consists of deposits, loans, equipment lease financing and postdated check discount as well as factoring. The company operates primarily in California, New York, New Jersey, Washington and Illinois. Hope Bancorp, Inc., formerly known as BBCN Bancorp, Inc., is headquartered in Los Angeles, California. "

Separately, DA Davidson upgraded shares of Hope Bancorp from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $17.00 to $18.00 in a research note on Monday, November 15th.

HOPE opened at $14.66 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.93. The business has a 50 day simple moving average of $14.79. Hope Bancorp has a 1-year low of $10.65 and a 1-year high of $16.61. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 10.04 and a beta of 1.50.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Sunday, October 24th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.42 by $0.03. The business had revenue of $140.91 million during the quarter, compared to the consensus estimate of $136.92 million. Hope Bancorp had a net margin of 29.96% and a return on equity of 8.77%. During the same quarter last year, the firm earned $0.25 EPS. On average, sell-side analysts forecast that Hope Bancorp will post 1.64 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zeke Capital Advisors LLC increased its stake in Hope Bancorp by 7.9% in the third quarter. Zeke Capital Advisors LLC now owns 29,076 shares of the financial services provider's stock valued at $420,000 after purchasing an additional 2,125 shares during the period. UBS Asset Management Americas Inc. grew its position in Hope Bancorp by 4.5% during the third quarter. UBS Asset Management Americas Inc. now owns 169,639 shares of the financial services provider's stock worth $2,450,000 after buying an additional 7,382 shares during the period. Comerica Bank grew its position in Hope Bancorp by 0.7% during the third quarter. Comerica Bank now owns 176,785 shares of the financial services provider's stock worth $2,622,000 after buying an additional 1,199 shares during the period. Captrust Financial Advisors grew its position in Hope Bancorp by 32.6% during the third quarter. Captrust Financial Advisors now owns 13,230 shares of the financial services provider's stock worth $191,000 after buying an additional 3,255 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in Hope Bancorp by 31.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,539,769 shares of the financial services provider's stock worth $22,234,000 after buying an additional 364,663 shares during the period. 83.76% of the stock is owned by hedge funds and other institutional investors.

About Hope Bancorp

Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. The firm offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.

Recommended Story: Buy-Side Analysts

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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