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
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.
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