Hope Bancorp (NASDAQ:HOPE) Rating Increased to Hold at StockNews.com

Hope Bancorp (NASDAQ:HOPE) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Hope Bancorp Stock Down 0.7 %

Shares of HOPE stock opened at $13.48 on Friday. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.53. The stock has a market cap of $1.63 billion, a P/E ratio of 16.05 and a beta of 1.15. The stock has a 50 day moving average of $13.04 and a 200 day moving average of $12.09. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10.

Hope Bancorp (NASDAQ:HOPE) last posted 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). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The firm had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. During the same period last year, the firm earned $0.25 earnings per share. As a group, sell-side analysts expect that Hope Bancorp will post 0.85 EPS for the current year.

Insider Activity at Hope Bancorp

In other news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares in the company, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daisy Y. Ha sold 27,104 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.83, for a total transaction of $374,848.32. Following the sale, the director now directly owns 446,806 shares of the company’s stock, valued at $6,179,326.98. This represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,224 shares of company stock worth $1,737,873 in the last 90 days. Corporate insiders own 5.29% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Hope Bancorp by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after acquiring an additional 218,302 shares during the last quarter. State Street Corp raised its stake in Hope Bancorp by 1.9% in the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock valued at $77,277,000 after purchasing an additional 112,824 shares during the last quarter. Wellington Management Group LLP raised its stake in Hope Bancorp by 30.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock valued at $57,192,000 after purchasing an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Hope Bancorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock valued at $35,703,000 after purchasing an additional 48,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Hope Bancorp by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock worth $29,468,000 after purchasing an additional 33,689 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.