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.

Analysts Set New Price Targets

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

Hope Bancorp Trading Up 0.9 %

NASDAQ:HOPE opened at $15.41 on Monday. Hope Bancorp has a 12-month low of $13.00 and a 12-month high of $17.68. The firm has a market capitalization of $1.84 billion, a P/E ratio of 8.51 and a beta of 1.25. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.98 and a quick ratio of 0.97. The business has a 50 day simple moving average of $14.32 and a 200 day simple moving average of $15.24.

Hope Bancorp (NASDAQ:HOPE - Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $150.08 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The business's revenue for the quarter was up 12.1% compared to the same quarter last year. Equities research analysts predict that Hope Bancorp will post 1.85 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Friday, July 29th were given a dividend of $0.14 per share. 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 (DPR) is presently 30.94%.