Hope Bancorp (NASDAQ:HOPE) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Hope Bancorp (NASDAQ:HOPE) from a hold rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.

Several other analysts have also issued reports on HOPE. Zacks Investment Research lowered shares of Hope Bancorp from a hold rating to a sell rating in a research report on Tuesday, March 31st. TheStreet lowered shares of Hope Bancorp from a b- rating to a c+ rating in a research report on Tuesday, March 3rd.

Shares of HOPE stock traded up $0.37 during trading hours on Thursday, reaching $7.64. The company had a trading volume of 1,100,700 shares, compared to its average volume of 931,180. The business has a fifty day moving average price of $10.82 and a 200-day moving average price of $13.58. Hope Bancorp has a one year low of $7.06 and a one year high of $15.51. The firm has a market cap of $903.60 million, a PE ratio of 5.62 and a beta of 1.72. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $126.49 million during the quarter, compared to analyst estimates of $127.50 million. Hope Bancorp had a net margin of 23.29% and a return on equity of 8.54%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Equities research analysts forecast that Hope Bancorp will post 1.01 EPS for the current year.

A number of large investors have recently modified their holdings of the business. Alliancebernstein L.P. lifted its holdings in Hope Bancorp by 0.3% during the fourth quarter. Alliancebernstein L.P. now owns 212,286 shares of the financial services provider’s stock valued at $3,155,000 after purchasing an additional 718 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Hope Bancorp by 2.0% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 38,771 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 760 shares in the last quarter. Mason Street Advisors LLC lifted its holdings in Hope Bancorp by 2.6% during the fourth quarter. Mason Street Advisors LLC now owns 44,130 shares of the financial services provider’s stock valued at $656,000 after purchasing an additional 1,113 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Hope Bancorp by 4.0% during the third quarter. Metropolitan Life Insurance Co NY now owns 38,515 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 1,481 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in Hope Bancorp by 8.7% during the fourth quarter. Amalgamated Bank now owns 20,141 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 1,614 shares in the last quarter. 88.29% 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 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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