NASDAQ:HOPE - Get Free Report )'s share price dropped 3.9% during trading on Monday . The company traded as low as $10.24 and last traded at $10.53. Approximately 118,727 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 644,997 shares. The stock had previously closed at $10.96.
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Analysts Set New Price Targets A number of analysts recently weighed in on HOPE shares. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, January 6th. Wedbush lowered their price target on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.33.
Check Out Our Latest Research Report on Hope Bancorp
Hope Bancorp Trading Down 9.4 % The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $1.20 billion, a PE ratio of 8.88 and a beta of 1.13. The business's 50-day moving average is $10.95 and its two-hundred day moving average is $10.74.
Hope Bancorp (NASDAQ:HOPE - Get Free Report ) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $135.20 million during the quarter, compared to analysts' expectations of $138.47 million. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. During the same period in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.
Hope Bancorp Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend was Thursday, February 8th. Hope Bancorp's payout ratio is 50.00%.
Institutional Trading of Hope Bancorp Several hedge funds have recently modified their holdings of HOPE. CWM LLC raised its position in Hope Bancorp by 39.1% in the first quarter. CWM LLC now owns 8,939 shares of the financial services provider's stock worth $103,000 after acquiring an additional 2,513 shares in the last quarter. Drive Wealth Management LLC acquired a new position in shares of Hope Bancorp during the 1st quarter worth $116,000. QRG Capital Management Inc. acquired a new position in shares of Hope Bancorp during the 3rd quarter worth $132,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Hope Bancorp by 8.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider's stock valued at $155,000 after purchasing an additional 1,033 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Hope Bancorp by 46.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider's stock valued at $192,000 after purchasing an additional 5,034 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.
About Hope Bancorp (
Get Free Report )
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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