Hope Bancorp (NASDAQ:HOPE) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Wednesday.

Other equities analysts have also issued reports about the company. Wedbush restated a “neutral” rating and set a $18.00 price target (down from $19.00) on shares of Hope Bancorp in a research note on Monday, July 16th. Zacks Investment Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 20th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $18.25.

NASDAQ HOPE opened at $14.66 on Wednesday. Hope Bancorp has a twelve month low of $14.48 and a twelve month high of $19.86. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. The stock has a market cap of $2.10 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 1.10 and a beta of 1.37.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $141.01 million. During the same quarter in the previous year, the firm earned $0.33 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. As a group, analysts expect that Hope Bancorp will post 1.47 EPS for the current year.

In related news, Director Donald Byun sold 40,456 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total transaction of $721,735.04. Following the transaction, the director now directly owns 35,170 shares in the company, valued at $627,432.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Lee Song sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total value of $88,750.00. Following the transaction, the executive vice president now owns 4,023 shares in the company, valued at $71,408.25. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Hope Bancorp by 9.0% in the 2nd quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock valued at $328,490,000 after purchasing an additional 1,527,125 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Hope Bancorp by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,213,335 shares of the financial services provider’s stock valued at $164,275,000 after purchasing an additional 593,266 shares during the period. LSV Asset Management grew its stake in shares of Hope Bancorp by 43.7% in the 2nd quarter. LSV Asset Management now owns 4,071,026 shares of the financial services provider’s stock valued at $72,586,000 after purchasing an additional 1,237,072 shares during the period. Northern Trust Corp grew its stake in shares of Hope Bancorp by 0.8% in the 2nd quarter. Northern Trust Corp now owns 3,170,038 shares of the financial services provider’s stock valued at $56,523,000 after purchasing an additional 25,887 shares during the period. Finally, Pzena Investment Management LLC grew its stake in shares of Hope Bancorp by 4.5% in the 2nd quarter. Pzena Investment Management LLC now owns 3,018,616 shares of the financial services provider’s stock valued at $53,822,000 after purchasing an additional 131,235 shares during the period. Institutional investors own 90.09% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.

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Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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