Hope Bancorp - HOPE Stock Forecast, Price & News

Hope Bancorp, Inc. operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. Its loan products include commercial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, and other business related financing needs; real estate loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, auto, credit card, and personal loans. The company also offers trade finance services, including the issuance and negotiation of letters of credit, as well as handles documentary collections; warehouse lines of credit to mortgage loan originators; and commercial equipment lease financing. In addition, it provides cash management services, such as remote deposit capture, lock box, and ACH origination services; investment and wealth management services; mobile banking services; debit card services; foreign exchanges services, safe deposit boxes, and other customary bank services; internet banking services; and automated teller machine services. As of December 31, 2021, the company operated 47 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, and Alabama; SBA loan production offices in Atlanta, Houston, Dallas, Denver, Portland, Seattle, Fremont, and Southern California; and a representative office in Seoul, Korea. Hope Bancorp, Inc. was incorporated in 2000 and is headquartered in Los Angeles, California.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HOPE. Wedbush upped their price target on Hope Bancorp to $16.00 in a research report on Friday, July 22nd. DA Davidson downgraded Hope Bancorp from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $20.00 to $16.00 in a report on Wednesday, May 18th. StockNews.com upgraded Hope Bancorp from a "hold" rating to a "buy" rating in a report on Thursday, June 23rd. Finally, Piper Sandler reduced their target price on Hope Bancorp to $16.00 in a report on Monday, July 4th.

Hope Bancorp Stock Up 0.9 %

HOPE Stock opened at $15.41 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 8.51 and a beta of 1.25. The business's 50 day moving average price is $14.32 and its two-hundred day moving average price is $15.25. Hope Bancorp has a fifty-two week low of $13.00 and a fifty-two week high of $17.68.

Hope Bancorp (NASDAQ:HOPE - Get Rating) last issued its earnings results on Tuesday, July 19th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Hope Bancorp had a return on equity of 10.72% and a net margin of 34.35%. The business had revenue of $154.28 million for the quarter, compared to the consensus estimate of $150.08 million. During the same period last year, the business posted $0.43 EPS. The company's revenue was up 12.1% compared to the same quarter last year. As a group, analysts forecast that Hope Bancorp will post 1.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.56 dividend on an annualized basis and a yield of 3.63%. Hope Bancorp's dividend payout ratio is currently 30.94%.