Hope Bancorp (NASDAQ:HOPE) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Hope Bancorp (NASDAQ:HOPE) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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

Hope Bancorp Trading Down 0.5 %

Shares of Hope Bancorp stock opened at $12.47 on Tuesday. Hope Bancorp has a fifty-two week low of $8.51 and a fifty-two week high of $13.59. The business’s fifty day moving average is $12.58 and its two-hundred day moving average is $11.60. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.51 billion, a PE ratio of 14.01 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. During the same quarter last year, the company posted $0.25 earnings per share. Analysts anticipate that Hope Bancorp will post 0.87 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 4.49%. Hope Bancorp’s dividend payout ratio (DPR) is 62.92%.

Insider Transactions at Hope Bancorp

In related news, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 21,538 shares in the company, valued at $267,071.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Malone sold 10,428 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares of the company’s stock, valued at $1,397,985.61. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,831 shares of company stock valued at $323,657 over the last 90 days. Corporate insiders own 5.29% of the company’s stock.

Hedge Funds Weigh In On Hope Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position in shares of Hope Bancorp by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 1,200 shares during the last quarter. CWM LLC increased its holdings in Hope Bancorp by 15.7% during the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,238 shares during the last quarter. Inspire Investing LLC raised its position in shares of Hope Bancorp by 4.5% in the 2nd quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,413 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Hope Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 105,134 shares of the financial services provider’s stock valued at $1,210,000 after buying an additional 1,422 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of Hope Bancorp by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock worth $912,000 after buying an additional 1,484 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Company Profile

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.