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

Several other research firms have also recently commented on HOPE. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $18.50 target price on shares of Hope Bancorp in a research report on Thursday, October 26th. Raymond James Financial reaffirmed a market perform rating on shares of Hope Bancorp in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Hope Bancorp from a sell rating to a hold rating in a research report on Monday, October 30th. FIG Partners cut shares of Hope Bancorp from an outperform rating to a market perform rating and dropped their target price for the stock from $20.00 to $17.00 in a research report on Friday, September 15th. Finally, DA Davidson reissued a buy rating and set a $21.00 price target on shares of Hope Bancorp in a research report on Monday, September 18th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $19.58.

Shares of Hope Bancorp (NASDAQ HOPE) opened at $19.02 on Friday. The stock has a market cap of $2,541.95, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.56 and a beta of 1.39. Hope Bancorp has a twelve month low of $17.14 and a twelve month high of $19.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. The business had revenue of $139.51 million for the quarter, compared to analyst estimates of $137.93 million. During the same quarter last year, the firm earned $0.22 EPS. equities analysts expect that Hope Bancorp will post 1.2 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.73%. Hope Bancorp’s dividend payout ratio is presently 43.33%.

In other news, CFO Alex Ko sold 40,000 shares of Hope Bancorp stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $18.92, for a total value of $756,800.00. Following the completion of the sale, the chief financial officer now directly owns 10,088 shares in the company, valued at $190,864.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total transaction of $57,750.00. The disclosure for this sale can be found here. Insiders sold 121,981 shares of company stock valued at $2,303,614 over the last quarter. Company insiders own 5.20% of the company’s stock.

A number of large investors have recently modified their holdings of the business. California Public Employees Retirement System lifted its holdings in Hope Bancorp by 4.4% during the third quarter. California Public Employees Retirement System now owns 400,906 shares of the financial services provider’s stock valued at $7,100,000 after purchasing an additional 16,776 shares in the last quarter. Zions Bancorporation purchased a new position in Hope Bancorp during the third quarter valued at approximately $102,000. Maltese Capital Management LLC lifted its holdings in Hope Bancorp by 12.6% during the third quarter. Maltese Capital Management LLC now owns 152,000 shares of the financial services provider’s stock valued at $2,692,000 after purchasing an additional 17,000 shares in the last quarter. NWQ Investment Management Company LLC lifted its holdings in Hope Bancorp by 11.0% during the third quarter. NWQ Investment Management Company LLC now owns 1,677,664 shares of the financial services provider’s stock valued at $29,711,000 after purchasing an additional 165,755 shares in the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in Hope Bancorp during the third quarter valued at approximately $192,000. 80.58% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “Hope Bancorp (HOPE) Upgraded to “Buy” at ValuEngine” was originally published by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this story on another publication, it was copied illegally and republished in violation of US & international trademark and copyright legislation. The original version of this story can be viewed at https://theolympiareport.com/2017/12/05/hope-bancorp-hope-upgraded-to-buy-at-valuengine.html.

About Hope Bancorp

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Hope Bancorp (NASDAQ:HOPE)

Receive News & Ratings for Hope Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.