Hope Bancorp (NASDAQ:HOPE) Reaches New 12-Month Low – What’s Next?

Hope Bancorp, Inc. (NASDAQ:HOPE)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $9.64 and last traded at $9.64, with a volume of 1979467 shares. The stock had previously closed at $10.51.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. DA Davidson lowered their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler lowered their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Hope Bancorp has an average rating of “Hold” and a consensus price target of $12.88.

Hope Bancorp Stock Down 8.3 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.76 and a beta of 1.15. The firm’s fifty day moving average price is $11.00 and its 200-day moving average price is $12.16.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Sell-side analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.14 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 5.81%. Hope Bancorp’s dividend payout ratio is 68.29%.

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.29% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hope Bancorp

A number of large investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC lifted its stake in shares of Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 848 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Hope Bancorp by 819.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 3,309 shares during the last quarter. Quantbot Technologies LP bought a new stake in Hope Bancorp during the 3rd quarter worth approximately $58,000. Finally, KBC Group NV raised its stake in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,901 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.