Hope Bancorp (NASDAQ:HOPE) Price Target Raised to $15.00

Hope Bancorp (NASDAQ:HOPE) had its price objective raised by Keefe, Bruyette & Woods from $14.00 to $15.00 in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on HOPE. DA Davidson increased their price target on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings raised Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Hope Bancorp currently has an average rating of “Hold” and a consensus price target of $15.50.

Hope Bancorp Stock Down 0.6%

Hope Bancorp stock opened at $14.27 on Monday. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 14.27 and a beta of 0.83. Hope Bancorp has a 52-week low of $9.80 and a 52-week high of $14.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.98. The firm has a 50 day moving average price of $13.34 and a two-hundred day moving average price of $12.40.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. During the same period in the prior year, the firm posted ($0.22) EPS. Equities analysts predict that Hope Bancorp will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 3.9%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Insider Buying and Selling

In other Hope Bancorp news, Director Daisy Y. Ha sold 26,995 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the transaction, the director owned 346,120 shares in the company, valued at approximately $4,928,748.80. This represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of Hope Bancorp by 9.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock worth $128,000 after buying an additional 960 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Hope Bancorp by 6.2% during the fourth quarter. Hantz Financial Services Inc. now owns 18,064 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 1,051 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in Hope Bancorp by 5.1% during the fourth quarter. Corient Private Wealth LLC now owns 22,218 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 1,074 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Hope Bancorp by 0.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 269,046 shares of the financial services provider’s stock worth $2,950,000 after acquiring an additional 1,152 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Hope Bancorp by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 60,053 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 1,659 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.