ValuEngine upgraded shares of Hope Bancorp (NASDAQ:HOPE) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Hope Bancorp from a hold rating to a sell rating in a research report on Monday, July 23rd. Wedbush reiterated a neutral rating and issued a $18.00 price objective (down from $19.00) on shares of Hope Bancorp in a research report on Monday, July 16th. Finally, DA Davidson lowered shares of Hope Bancorp from a buy rating to a neutral rating and set a $20.00 price objective on the stock. in a research report on Wednesday, May 30th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $19.42.
Shares of NASDAQ HOPE opened at $17.59 on Friday. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.17 and a beta of 1.39. Hope Bancorp has a one year low of $16.74 and a one year high of $19.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.
Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $138.09 million for the quarter, compared to analysts’ expectations of $139.60 million. Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. During the same quarter in the previous year, the firm posted $0.30 earnings per share. analysts forecast that Hope Bancorp will post 1.47 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Friday, July 27th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 26th. This is a positive change from Hope Bancorp’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 3.18%. Hope Bancorp’s payout ratio is currently 45.90%.
Institutional investors have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. purchased a new stake in shares of Hope Bancorp in the 2nd quarter worth about $257,000. Summit Trail Advisors LLC raised its stake in Hope Bancorp by 1,515.0% in the 1st quarter. Summit Trail Advisors LLC now owns 260,122 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 244,015 shares during the last quarter. Gator Capital Management LLC acquired a new position in Hope Bancorp in the 2nd quarter valued at about $267,000. Xact Kapitalforvaltning AB raised its stake in Hope Bancorp by 62.8% in the 1st quarter. Xact Kapitalforvaltning AB now owns 21,769 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Foundry Partners LLC raised its stake in Hope Bancorp by 15.8% in the 2nd quarter. Foundry Partners LLC now owns 25,710 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 84.21% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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