Hope Bancorp (NASDAQ:HOPE) Reaches New 12-Month Low at $12.37

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $12.37 and last traded at $12.40, with a volume of 2783 shares traded. The stock had previously closed at $12.56.

Analyst Ratings Changes

HOPE has been the subject of several recent research reports. DA Davidson boosted their price target on Hope Bancorp to $14.00 in a research report on Thursday, October 27th. StockNews.com initiated coverage on Hope Bancorp in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Piper Sandler reduced their price target on Hope Bancorp to $15.00 in a research report on Friday, September 30th.

Hope Bancorp Trading Up 0.9 %

The company has a 50 day moving average of $13.15 and a two-hundred day moving average of $13.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market capitalization of $1.51 billion, a PE ratio of 6.99 and a beta of 1.21.

Hope Bancorp (NASDAQ:HOPE – Get Rating) last announced its earnings results on Monday, October 24th. The financial services provider reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. Hope Bancorp had a return on equity of 10.76% and a net margin of 31.65%. The firm had revenue of $166.54 million for the quarter, compared to the consensus estimate of $161.25 million. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Sell-side analysts predict that Hope Bancorp, Inc. will post 1.83 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 3rd were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, November 2nd. This represents a $0.56 annualized dividend and a yield of 4.42%. Hope Bancorp’s payout ratio is presently 30.94%.

Institutional Trading of Hope Bancorp

Large investors have recently added to or reduced their stakes in the company. Everhart Financial Group Inc. grew its stake in Hope Bancorp by 46.3% during the 3rd quarter. Everhart Financial Group Inc. now owns 16,761 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 5,302 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Hope Bancorp by 108.7% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 201,852 shares of the financial services provider’s stock valued at $2,551,000 after purchasing an additional 105,148 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Hope Bancorp by 8.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 91,084 shares of the financial services provider’s stock valued at $1,260,000 after purchasing an additional 7,370 shares during the last quarter. EMC Capital Management grew its stake in Hope Bancorp by 51.3% during the 2nd quarter. EMC Capital Management now owns 20,067 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 6,802 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Hope Bancorp by 16.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 20,221 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 2,929 shares during the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.

About Hope Bancorp

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Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.