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.

Hope Bancorp Trading Up 0.3 %

NASDAQ:HOPE traded up $0.05 on Thursday, reaching $15.60. 321,686 shares of the company's stock were exchanged, compared to its average volume of 846,835. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 8.62 and a beta of 1.25. Hope Bancorp has a 52-week low of $13.00 and a 52-week high of $17.68. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $14.40 and a 200-day moving average of $15.23.

Hope Bancorp (NASDAQ:HOPE - Get Rating) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.02. The company had revenue of $154.28 million for the quarter, compared to analyst estimates of $150.08 million. Hope Bancorp had a net margin of 34.35% and a return on equity of 10.72%. The firm's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. As a group, analysts expect that Hope Bancorp will post 1.85 earnings per share for the current 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 paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $0.56 annualized dividend and a yield of 3.59%. Hope Bancorp's payout ratio is 30.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HOPE. Wedbush raised their price objective on Hope Bancorp to $16.00 in a research report on Friday, July 22nd. StockNews.com upgraded shares of Hope Bancorp from a "hold" rating to a "buy" rating in a report on Thursday, June 23rd. Piper Sandler dropped their target price on shares of Hope Bancorp to $16.00 in a report on Monday, July 4th. Finally, DA Davidson cut Hope Bancorp from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $20.00 to $16.00 in a research note on Wednesday, May 18th.