Hope Bancorp (NASDAQ:HOPE) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Hope Bancorp, Inc. (NASDAQ:HOPE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.86 and traded as high as $13.04. Hope Bancorp shares last traded at $12.96, with a volume of 997,395 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price target on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Monday, April 6th. Brean Capital upgraded Hope Bancorp from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 1st. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, DA Davidson raised their target price on Hope Bancorp from $14.50 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.50.

Hope Bancorp Price Performance

The stock’s 50-day moving average price is $12.54 and its 200-day moving average price is $11.89. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 25.77 and a beta of 0.84. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.22 by $0.01. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The business had revenue of $133.82 million for the quarter, compared to analysts’ expectations of $145.30 million. During the same period in the prior year, the firm earned $0.17 earnings per share. Hope Bancorp’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts anticipate that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, May 8th. Hope Bancorp’s dividend payout ratio (DPR) is presently 107.69%.

Insider Activity at Hope Bancorp

In other news, Director Daisy Y. Ha sold 12,000 shares of Hope Bancorp stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total value of $150,360.00. Following the completion of the sale, the director directly owned 373,115 shares of the company’s stock, valued at approximately $4,675,130.95. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.27% of the company’s stock.

Institutional Trading of Hope Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOPE. Global Retirement Partners LLC acquired a new position in Hope Bancorp during the 4th quarter valued at about $28,000. International Assets Investment Management LLC acquired a new stake in shares of Hope Bancorp during the 4th quarter worth approximately $29,000. Geneos Wealth Management Inc. raised its stake in shares of Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after buying an additional 2,558 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Hope Bancorp by 375.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after buying an additional 2,862 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after buying an additional 3,071 shares during the period. 84.00% 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 Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.