Hope Bancorp (NASDAQ:HOPE) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “Hope Bancorp Inc. operates as the bank holding company which provides commercial banking services primarily to small- to medium-sized businesses and individuals primarily in the United States. Its product and services consists of deposits, loans, equipment lease financing and postdated check discount as well as factoring. The company operates primarily in California, New York, New Jersey, Washington and Illinois. Hope Bancorp, Inc., formerly known as BBCN Bancorp, Inc., is headquartered in Los Angeles, California. “
Separately, ValuEngine raised Yirendai from a strong sell rating to a sell rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Hope Bancorp currently has an average rating of Hold and an average price target of $16.00.
Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). Hope Bancorp had a net margin of 23.98% and a return on equity of 9.12%. The business had revenue of $129.51 million for the quarter, compared to analysts’ expectations of $133.30 million. During the same period last year, the business earned $0.36 earnings per share. As a group, research analysts anticipate that Hope Bancorp will post 1.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 26th will be given a $0.14 dividend. The ex-dividend date is Thursday, July 25th. This represents a $0.56 annualized dividend and a yield of 3.86%. Hope Bancorp’s payout ratio is 38.89%.
In other Hope Bancorp news, CFO Alex Ko sold 13,507 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $14.29, for a total value of $193,015.03. Following the transaction, the chief financial officer now directly owns 5,888 shares of the company’s stock, valued at $84,139.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.59% of the company’s stock.
A number of large investors have recently made changes to their positions in HOPE. Public Employees Retirement System of Ohio lifted its position in shares of Hope Bancorp by 58.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,402 shares of the financial services provider’s stock valued at $28,000 after buying an additional 887 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Hope Bancorp by 47.4% during the 1st quarter. Versant Capital Management Inc now owns 4,494 shares of the financial services provider’s stock valued at $58,000 after buying an additional 1,445 shares in the last quarter. Martin Capital Partners LLC purchased a new position in shares of Hope Bancorp during the 1st quarter valued at about $101,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Hope Bancorp during the 1st quarter valued at about $140,000. Finally, Magnus Financial Group LLC purchased a new position in shares of Hope Bancorp during the 1st quarter valued at about $160,000. 87.23% 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 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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