Hope Bancorp (NASDAQ:HOPE) Upgraded at StockNews.com

StockNews.com upgraded shares of Hope Bancorp (NASDAQ:HOPE) from a sell rating to a hold rating in a research note issued to investors on Monday.

Separately, Keefe, Bruyette & Woods increased their price target on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Hope Bancorp Stock Up 1.4 %

HOPE opened at $13.35 on Monday. Hope Bancorp has a 12 month low of $8.15 and a 12 month high of $13.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $1.61 billion, a P/E ratio of 13.35 and a beta of 1.13. The stock’s 50 day moving average price is $12.43 and its 200 day moving average price is $11.47.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $116.90 million during the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. As a group, research analysts predict that Hope Bancorp will post 0.87 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend was Thursday, August 8th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Insider Transactions at Hope Bancorp

In other news, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total transaction of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares of the company’s stock, valued at $267,071.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,831 shares of company stock valued at $323,657 in the last three months. 5.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Hope Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Hope Bancorp in the third quarter worth $48,000. SageView Advisory Group LLC acquired a new stake in shares of Hope Bancorp in the first quarter worth $49,000. Fifth Third Bancorp boosted its position in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after buying an additional 3,163 shares during the period. CWM LLC boosted its position in shares of 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 buying an additional 2,513 shares during the period. Finally, Choreo LLC acquired a new stake in shares of Hope Bancorp in the second quarter worth $108,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Company Profile

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.