Hope Bancorp (NASDAQ:HOPE) Stock Rating Lowered by StockNews.com

Hope Bancorp (NASDAQ:HOPE) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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

Hope Bancorp Price Performance

Shares of NASDAQ HOPE traded down $0.06 on Tuesday, hitting $12.47. The company’s stock had a trading volume of 661,291 shares, compared to its average volume of 723,591. Hope Bancorp has a 12-month low of $8.51 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 50 day moving average of $12.58 and a 200-day moving average of $11.60. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 14.01 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The firm had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. During the same period in the prior year, the business earned $0.25 earnings per share. As a group, research analysts predict that Hope Bancorp will post 0.87 EPS for the current year.

Insider Activity

In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the sale, the director now directly owns 109,991 shares in the company, valued at approximately $1,397,985.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now directly owns 109,991 shares in the company, valued at approximately $1,397,985.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Stenger sold 3,200 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the transaction, the executive vice president now directly owns 25,952 shares of the company’s stock, valued at approximately $321,804.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hope Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System grew its stake in Hope Bancorp by 117.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock valued at $1,826,000 after acquiring an additional 85,709 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Hope Bancorp during the first quarter valued at approximately $915,000. Assenagon Asset Management S.A. increased its stake in Hope Bancorp by 232.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after buying an additional 1,632,384 shares during the period. American Century Companies Inc. raised its holdings in shares of Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after acquiring an additional 296,469 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Hope Bancorp by 18.9% in the 1st quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock worth $2,325,000 after purchasing an additional 32,056 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.