Hope Bancorp (NASDAQ:HOPE) Lifted to “Hold” at StockNews.com

Hope Bancorp (NASDAQ:HOPE – Get Rating) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other research firms have also recently issued reports on HOPE. TheStreet cut shares of Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Thursday, May 4th. Keefe, Bruyette & Woods reduced their price target on Hope Bancorp from $14.00 to $12.00 and set a “market perform” rating on the stock in a report on Thursday, April 6th.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $8.29 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.09 and a quick ratio of 1.08. The firm has a market cap of $994.14 million, a price-to-earnings ratio of 5.05 and a beta of 1.15. The company has a 50 day moving average price of $9.12 and a 200-day moving average price of $11.61. Hope Bancorp has a 1-year low of $7.42 and a 1-year high of $15.73.

Insider Buying and Selling at Hope Bancorp

In other news, Director William J. Lewis acquired 10,000 shares of Hope Bancorp stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average cost of $10.60 per share, with a total value of $106,000.00. Following the purchase, the director now directly owns 27,887 shares of the company’s stock, valued at approximately $295,602.20. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dale S. Zuehls purchased 12,402 shares of Hope Bancorp stock in a transaction that occurred on Tuesday, May 2nd. The shares were purchased at an average cost of $8.09 per share, with a total value of $100,332.18. Following the transaction, the director now owns 35,003 shares of the company’s stock, valued at approximately $283,174.27. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William J. Lewis purchased 10,000 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, March 15th. The shares were bought 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 disclosure for this purchase can be found here. 5.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hope Bancorp

Institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. increased its holdings in shares of Hope Bancorp by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,313 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Hope Bancorp by 4.3% in the 1st quarter. Citigroup Inc. now owns 118,438 shares of the financial services provider’s stock valued at $1,904,000 after acquiring an additional 4,897 shares during the last quarter. Natixis Advisors L.P. increased its holdings in shares of Hope Bancorp by 39.8% in the 1st quarter. Natixis Advisors L.P. now owns 19,861 shares of the financial services provider’s stock valued at $319,000 after acquiring an additional 5,651 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Hope Bancorp by 57.3% in the 1st quarter. Bank of Montreal Can now owns 70,698 shares of the financial services provider’s stock valued at $1,184,000 after acquiring an additional 25,743 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in shares of Hope Bancorp by 70.6% in the 1st quarter. MetLife Investment Management LLC now owns 61,401 shares of the financial services provider’s stock valued at $987,000 after acquiring an additional 25,417 shares during the last quarter. 84.30% of the stock is owned by institutional investors and hedge funds.

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.