Hope Bancorp (NASDAQ:HOPE) Upgraded to "Buy" by DA Davidson

Hope Bancorp (NASDAQ:HOPE - Get Free Report) was upgraded by equities researchers at DA Davidson from a "neutral" rating to a "buy" rating in a research note issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $12.50 price target on the financial services provider's stock. DA Davidson's target price suggests a potential upside of 24.75% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. Wedbush reduced their target price on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 31st. StockNews.com raised Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, January 6th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $11.50.

Hope Bancorp Trading Up 1.0 %

Hope Bancorp stock traded up $0.09 during trading hours on Tuesday, reaching $10.02. The company had a trading volume of 1,532,218 shares, compared to its average volume of 677,779. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50-day moving average price of $10.92 and a 200 day moving average price of $10.75. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 8.95 and a beta of 1.13. Hope Bancorp has a 12-month low of $7.42 and a 12-month high of $12.51.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.05). Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. The company had revenue of $123.30 million during the quarter, compared to analysts' expectations of $130.42 million. During the same period last year, the firm earned $0.33 earnings per share. Hope Bancorp's revenue for the quarter was down 14.9% on a year-over-year basis. Equities analysts forecast that Hope Bancorp will post 1.09 earnings per share for the current year.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in Hope Bancorp by 8.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider's stock worth $155,000 after acquiring an additional 1,033 shares in the last quarter. Bridge City Capital LLC boosted its holdings in Hope Bancorp by 0.8% in the first quarter. Bridge City Capital LLC now owns 167,405 shares of the financial services provider's stock worth $1,927,000 after acquiring an additional 1,263 shares in the last quarter. CWM LLC lifted its holdings in shares of Hope Bancorp by 39.1% during the first quarter. CWM LLC now owns 8,939 shares of the financial services provider's stock valued at $103,000 after purchasing an additional 2,513 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Hope Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 263,657 shares of the financial services provider's stock valued at $2,333,000 after purchasing an additional 3,000 shares in the last quarter. Finally, WBI Investments Inc. lifted its holdings in shares of Hope Bancorp by 10.4% during the third quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider's stock valued at $335,000 after purchasing an additional 3,566 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

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.