Several analysts have recently updated their ratings and price targets for Hope Bancorp (NASDAQ: HOPE):
- 11/9/2017 – Hope Bancorp was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 11/2/2017 – Hope Bancorp had its “market perform” rating reaffirmed by analysts at Raymond James Financial, Inc..
- 10/30/2017 – Hope Bancorp was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Hope Bancorp Inc. operates as the bank holding company which provides commercial banking services primarily to small- to medium-sized businesses and individuals primarily in the United States. Its product and services consists of deposits, loans, equipment lease financing and postdated check discount as well as factoring. The company operates primarily in California, New York, New Jersey, Washington and Illinois. Hope Bancorp, Inc., formerly known as BBCN Bancorp, Inc., is headquartered in Los Angeles, California. “
- 10/26/2017 – Hope Bancorp was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 10/26/2017 – Hope Bancorp had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $18.50 price target on the stock.
- 10/3/2017 – Hope Bancorp had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $17.50 price target on the stock.
- 9/18/2017 – Hope Bancorp had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $21.00 price target on the stock.
Hope Bancorp, Inc. (NASDAQ:HOPE) opened at $17.38 on Wednesday. The firm has a market capitalization of $2,348.19, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.40. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Hope Bancorp, Inc. has a one year low of $17.22 and a one year high of $17.51.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $139.51 million for the quarter, compared to analyst estimates of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same period in the prior year, the company earned $0.22 EPS. equities analysts predict that Hope Bancorp, Inc. will post 1.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st were paid a $0.13 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.52 dividend on an annualized basis and a yield of 2.99%. Hope Bancorp’s dividend payout ratio is currently 43.33%.
In other Hope Bancorp news, Director Donald Byun sold 101,026 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jason K. Kim sold 3,669 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $18.25, for a total value of $66,959.25. Following the completion of the transaction, the executive vice president now owns 67,060 shares in the company, valued at $1,223,845. The disclosure for this sale can be found here. Insiders sold a total of 162,174 shares of company stock worth $2,808,891 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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