Hope Bancorp (NASDAQ:HOPE) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Hope Bancorp (NASDAQ:HOPE – Get Rating) in a research report sent to investors on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $10.59 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.27 billion, a P/E ratio of 5.85 and a beta of 1.19. Hope Bancorp has a 12 month low of $9.93 and a 12 month high of $16.88. The business’s 50-day moving average is $12.65 and its 200 day moving average is $13.17.

Hope Bancorp (NASDAQ:HOPE – Get Rating) last posted its earnings results on Tuesday, January 24th. The financial services provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). The firm had revenue of $236.35 million during the quarter, compared to analysts’ expectations of $168.70 million. Hope Bancorp had a return on equity of 10.86% and a net margin of 28.44%. During the same quarter in the prior year, the firm posted $0.43 earnings per share. On average, equities research analysts forecast that Hope Bancorp will post 1.52 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 16th. Investors of record on Thursday, February 2nd were given a $0.14 dividend. The ex-dividend date was Wednesday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.29%. Hope Bancorp’s dividend payout ratio is currently 30.94%.

Insider Buying and Selling at Hope Bancorp

In related news, Director William J. Lewis acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, March 15th. The shares were acquired at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the completion of the transaction, the director now directly owns 27,887 shares in the company, valued at approximately $295,602.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.05% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOPE. Quadrant Capital Group LLC raised its position in Hope Bancorp by 169.2% during the third quarter. Quadrant Capital Group LLC now owns 2,816 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,770 shares during the period. Ronald Blue Trust Inc. raised its position in Hope Bancorp by 56.1% during the fourth quarter. Ronald Blue Trust Inc. now owns 2,942 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,057 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in Hope Bancorp during the third quarter valued at approximately $40,000. Royal Bank of Canada grew its stake in shares of Hope Bancorp by 67.9% during the third quarter. Royal Bank of Canada now owns 4,092 shares of the financial services provider’s stock valued at $51,000 after buying an additional 1,655 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its stake in shares of Hope Bancorp by 51.3% during the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,313 shares during the last quarter. 84.30% of the stock is currently owned by hedge funds and other institutional investors.

About Hope Bancorp

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Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.