Hope Bancorp (NASDAQ:HOPE - Get Rating) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Friday.
Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods dropped their price target on Hope Bancorp from $14.00 to $12.00 and set a "market perform" rating for the company in a research report on Thursday, April 6th. TheStreet cut Hope Bancorp from a "b-" rating to a "c+" rating in a research report on Thursday, May 4th.
Hope Bancorp Trading Down 1.7 %
Shares of HOPE stock opened at $8.29 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 1.08. The company has a market cap of $994.14 million, a price-to-earnings ratio of 5.05 and a beta of 1.15. The stock has a 50 day simple moving average of $9.12 and a 200-day simple moving average of $11.61. Hope Bancorp has a 1-year low of $7.42 and a 1-year high of $15.73.
Insiders Place Their Bets
In other news, Director Dale S. Zuehls bought 12,402 shares of Hope Bancorp stock in a transaction on Tuesday, May 2nd. The shares were bought at an average price of $8.09 per share, with a total value of $100,332.18. Following the acquisition, the director now directly owns 35,003 shares in the company, valued at approximately $283,174.27. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas Stenger sold 4,582 shares of Hope Bancorp stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $8.86, for a total transaction of $40,596.52. Following the transaction, the executive vice president now directly owns 39,293 shares in the company, valued at approximately $348,135.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dale S. Zuehls acquired 12,402 shares of Hope Bancorp stock in a transaction dated Tuesday, May 2nd. The shares were bought at an average cost of $8.09 per share, with a total value of $100,332.18. Following the completion of the purchase, the director now owns 35,003 shares in the company, valued at $283,174.27. The disclosure for this purchase can be found here. 5.05% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Hope Bancorp
Large investors have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. boosted its position in Hope Bancorp by 17.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 8,271,752 shares of the financial services provider's stock valued at $105,961,000 after purchasing an additional 1,206,357 shares during the last quarter. Norges Bank bought a new position in shares of Hope Bancorp in the fourth quarter worth about $14,687,000. Goldman Sachs Group Inc. increased its stake in Hope Bancorp by 89.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider's stock valued at $31,954,000 after acquiring an additional 1,092,042 shares during the period. Macquarie Group Ltd. increased its stake in Hope Bancorp by 22.1% during the third quarter. Macquarie Group Ltd. now owns 4,421,810 shares of the financial services provider's stock valued at $55,915,000 after acquiring an additional 801,315 shares during the period. Finally, Boston Partners increased its stake in Hope Bancorp by 378.7% during the first quarter. Boston Partners now owns 945,170 shares of the financial services provider's stock valued at $9,116,000 after acquiring an additional 747,719 shares during the period. 84.30% of the stock is owned by institutional investors.
About Hope Bancorp
(
Get Rating)
Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It 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.
See Also
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 contact@marketbeat.com.
Before you consider Hope Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hope Bancorp wasn't on the list.
While Hope Bancorp currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
