Analysts Set Hope Bancorp Inc (HOPE) Price Target at $19.10

Shares of Hope Bancorp Inc (NASDAQ:HOPE) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $19.10.

Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Monday, July 23rd. Wedbush reissued a “neutral” rating and issued a $18.00 target price (down previously from $19.00) on shares of Hope Bancorp in a research note on Monday, July 16th. ValuEngine cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. Finally, DA Davidson cut Hope Bancorp from a “buy” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research note on Wednesday, May 30th.

Shares of Hope Bancorp stock traded up $0.10 during trading on Thursday, hitting $17.46. The stock had a trading volume of 559,700 shares, compared to its average volume of 678,871. The stock has a market cap of $2.23 billion, a P/E ratio of 14.31, a PEG ratio of 1.17 and a beta of 1.39. Hope Bancorp has a 12 month low of $16.74 and a 12 month high of $19.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $138.09 million during the quarter, compared to the consensus estimate of $139.60 million. Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. During the same period in the previous year, the company posted $0.30 EPS. sell-side analysts predict that Hope Bancorp will post 1.47 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Friday, July 27th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, July 26th. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.13. Hope Bancorp’s dividend payout ratio is currently 45.90%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB bought a new position in Hope Bancorp in the fourth quarter valued at $244,000. Bridge City Capital LLC increased its stake in Hope Bancorp by 18.5% in the second quarter. Bridge City Capital LLC now owns 101,130 shares of the financial services provider’s stock valued at $1,803,000 after acquiring an additional 15,810 shares during the last quarter. SG Americas Securities LLC increased its stake in Hope Bancorp by 45.8% in the first quarter. SG Americas Securities LLC now owns 31,910 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 10,017 shares during the last quarter. Hartford Investment Management Co. bought a new position in Hope Bancorp in the second quarter valued at $257,000. Finally, Ramsey Quantitative Systems increased its stake in Hope Bancorp by 22.5% in the second quarter. Ramsey Quantitative Systems now owns 35,867 shares of the financial services provider’s stock valued at $640,000 after acquiring an additional 6,599 shares during the last quarter. 84.21% 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 banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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