Hope Bancorp (NASDAQ:HOPE) Stock Price Up 2.5%

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Hope Bancorp Inc (NASDAQ:HOPE)’s stock price rose 2.5% during trading on Wednesday . The stock traded as high as $8.01 and last traded at $8.19, approximately 35,342 shares were traded during trading. A decline of 97% from the average daily volume of 1,336,013 shares. The stock had previously closed at $7.99.

HOPE has been the topic of several research reports. TheStreet lowered shares of Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, March 3rd. ValuEngine raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Zacks Investment Research cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, February 6th.

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $993.09 million, a PE ratio of 6.13 and a beta of 1.52. The firm’s fifty day simple moving average is $11.68 and its 200-day simple moving average is $13.80.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $126.49 million during the quarter, compared to analysts’ expectations of $127.50 million. Hope Bancorp had a net margin of 23.29% and a return on equity of 8.54%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, analysts predict that Hope Bancorp Inc will post 1.1 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in Hope Bancorp in the fourth quarter worth about $32,000. Quantbot Technologies LP purchased a new position in shares of Hope Bancorp during the fourth quarter valued at approximately $46,000. SG Americas Securities LLC purchased a new position in shares of Hope Bancorp during the fourth quarter valued at approximately $140,000. First Republic Investment Management Inc. purchased a new position in shares of Hope Bancorp during the fourth quarter valued at approximately $154,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of Hope Bancorp during the first quarter valued at approximately $140,000. 88.29% of the stock is owned by institutional investors and hedge funds.

About Hope Bancorp (NASDAQ:HOPE)

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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