Hope Bancorp (NASDAQ:HOPE) Trading Down 3.9%

Hope Bancorp, Inc. (NASDAQ:HOPE)’s stock price fell 3.9% on Monday . The stock traded as low as $10.24 and last traded at $10.53. 118,727 shares were traded during mid-day trading, a decline of 82% from the average session volume of 644,997 shares. The stock had previously closed at $10.96.

Wall Street Analyst Weigh In

A number of analysts have commented on HOPE shares. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Wedbush dropped their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.33.

Hope Bancorp Stock Performance

The firm’s 50-day moving average price is $10.95 and its two-hundred day moving average price is $10.74. The firm has a market capitalization of $1.20 billion, a PE ratio of 8.88 and a beta of 1.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $135.20 million during the quarter, compared to analysts’ expectations of $138.47 million. Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. During the same period last year, the business earned $0.43 earnings per share. As a group, research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Thursday, February 8th. Hope Bancorp’s dividend payout ratio is currently 50.00%.

Institutional Trading of Hope Bancorp

Several institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in Hope Bancorp by 39.1% in the first quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 2,513 shares during the last quarter. Drive Wealth Management LLC acquired a new stake in shares of Hope Bancorp in the first quarter worth $116,000. QRG Capital Management Inc. acquired a new stake in shares of Hope Bancorp in the third quarter worth $132,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Hope Bancorp by 8.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock worth $155,000 after buying an additional 1,033 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Hope Bancorp by 46.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider’s stock worth $192,000 after buying an additional 5,034 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.