Hope Bancorp (NASDAQ:HOPE) Stock Rating Lowered by StockNews.com

by · The Markets Daily

Hope Bancorp (NASDAQ:HOPE – Get Free Report) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Keefe, Bruyette & Woods upped their target price on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th.

View Our Latest Research Report on Hope Bancorp

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $12.36 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. Hope Bancorp has a fifty-two week low of $8.15 and a fifty-two week high of $13.59. The stock has a 50 day moving average price of $12.38 and a two-hundred day moving average price of $11.40. The company has a market capitalization of $1.49 billion, a P/E ratio of 12.36 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE – Get Free Report) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $116.90 million during the quarter, compared to the consensus estimate of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Analysts expect that Hope Bancorp will post 0.89 earnings per share for the current year.

Insider Buying and Selling

In related news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the sale, the director now directly owns 109,991 shares of the company’s stock, valued at $1,397,985.61. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director David P. Malone sold 10,428 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the sale, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jinho Doo sold 10,703 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,831 shares of company stock valued at $323,657 over the last ninety days. Company insiders own 5.29% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Hope Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock worth $165,864,000 after acquiring an additional 115,826 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hope Bancorp by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after purchasing an additional 218,302 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 232.7% during the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after purchasing an additional 1,632,384 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Hope Bancorp by 4.3% during the first quarter. Boston Partners now owns 1,229,582 shares of the financial services provider’s stock valued at $13,994,000 after purchasing an additional 51,207 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

About Hope Bancorp

(Get Free Report)

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.

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