Hope Bancorp (HOPE) Lowered to “Hold” at ValuEngine

ValuEngine lowered shares of Hope Bancorp (NASDAQ:HOPE) from a buy rating to a hold rating in a research note released on Friday.

Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Hope Bancorp from a buy rating to a hold rating in a research note on Wednesday, February 14th. Piper Jaffray Companies restated a hold rating and set a $22.00 target price on shares of Hope Bancorp in a research note on Tuesday, January 9th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Hope Bancorp currently has an average rating of Hold and a consensus target price of $19.92.

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Shares of Hope Bancorp (HOPE) traded down $0.77 during mid-day trading on Friday, hitting $17.60. The company had a trading volume of 879,254 shares, compared to its average volume of 513,702. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2,489.58, a PE ratio of 17.09, a P/E/G ratio of 1.17 and a beta of 1.37. Hope Bancorp has a fifty-two week low of $17.14 and a fifty-two week high of $19.86.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The business had revenue of $142.84 million during the quarter, compared to analysts’ expectations of $139.26 million. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. equities research analysts predict that Hope Bancorp will post 1.57 earnings per share for the current fiscal year.

In other Hope Bancorp news, EVP Jason K. Kim sold 10,518 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $18.83, for a total transaction of $198,053.94. Following the completion of the sale, the executive vice president now directly owns 42,964 shares in the company, valued at $809,012.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jason K. Kim sold 10,406 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $18.29, for a total value of $190,325.74. Following the sale, the executive vice president now owns 42,964 shares of the company’s stock, valued at $785,811.56. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its stake in Hope Bancorp by 2.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 115,136 shares of the financial services provider’s stock worth $2,102,000 after purchasing an additional 2,786 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Hope Bancorp by 6.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 55,386 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 3,300 shares during the last quarter. Flinton Capital Management LLC lifted its stake in shares of Hope Bancorp by 21.4% in the 4th quarter. Flinton Capital Management LLC now owns 21,420 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 3,774 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Hope Bancorp by 39.2% in the 4th quarter. Pinnacle Associates Ltd. now owns 15,100 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 4,250 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of Hope Bancorp by 2.3% in the 4th quarter. Swiss National Bank now owns 216,657 shares of the financial services provider’s stock valued at $3,954,000 after acquiring an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 83.39% of the company’s stock.

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Hope Bancorp Company Profile

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.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

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