Hope Bancorp (NASDAQ:HOPE) Stock Rating Lowered by StockNews.com

Hope Bancorp (NASDAQ:HOPE) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Separately, Keefe, Bruyette & Woods increased their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

Hope Bancorp Stock Up 2.4 %

HOPE stock opened at $13.82 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp has a fifty-two week low of $9.45 and a fifty-two week high of $14.53. The stock’s 50 day simple moving average is $12.88 and its 200 day simple moving average is $11.92. The company has a market cap of $1.67 billion, a P/E ratio of 16.45 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data 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). The business had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter in the previous year, the company posted $0.25 EPS. On average, research analysts expect that Hope Bancorp will post 0.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hope Bancorp news, Director Daisy Y. Ha sold 27,104 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the transaction, the director now directly owns 446,806 shares in the company, valued at $6,179,326.98. The trade was a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,902 shares of company stock valued at $1,829,678 in the last 90 days. 5.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP increased its stake in Hope Bancorp by 8.5% in the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 919 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Hope Bancorp by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC increased its position in shares of Hope Bancorp by 15.7% in the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,238 shares during the last quarter. Inspire Investing LLC raised its stake in Hope Bancorp by 4.5% in the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,413 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in Hope Bancorp by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 1,484 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.