Hope Bancorp (NASDAQ:HOPE) Lowered to Sell at ValuEngine

June 27th, 2020 – Comments Off on Hope Bancorp (NASDAQ:HOPE) Lowered to Sell at ValuEngineFiled Under
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Hope Bancorp Inc logoValuEngine lowered shares of Hope Bancorp (NASDAQ:HOPE) from a hold rating to a sell rating in a report published on Tuesday morning, ValuEngine reports.

A number of other research firms also recently weighed in on HOPE. Zacks Investment Research upgraded Hope Bancorp from a sell rating to a hold rating in a research report on Thursday, May 7th. TheStreet downgraded Hope Bancorp from a b- rating to a c+ rating in a research report on Tuesday, March 3rd.

NASDAQ:HOPE opened at $8.50 on Tuesday. The business has a 50 day moving average of $9.24 and a 200 day moving average of $11.37. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 6.91 and a beta of 1.69. Hope Bancorp has a 1-year low of $7.06 and a 1-year high of $15.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.03 and a quick ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.03). The firm had revenue of $132.56 million during the quarter, compared to the consensus estimate of $122.82 million. Hope Bancorp had a return on equity of 7.63% and a net margin of 21.13%. During the same quarter in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts anticipate that Hope Bancorp will post 0.91 EPS for the current year.

In other Hope Bancorp news, Director Steven Koh sold 5,760 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.61, for a total value of $55,353.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 277,283 shares of company stock valued at $2,819,506 in the last quarter. Corporate insiders own 5.59% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in Hope Bancorp by 5.3% in the first quarter. State Street Corp now owns 5,069,602 shares of the financial services provider’s stock valued at $41,672,000 after purchasing an additional 256,038 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Hope Bancorp by 283.9% during the first quarter. Royal Bank of Canada now owns 49,859 shares of the financial services provider’s stock valued at $411,000 after buying an additional 36,873 shares during the period. Guggenheim Capital LLC increased its stake in shares of Hope Bancorp by 40.4% during the first quarter. Guggenheim Capital LLC now owns 20,676 shares of the financial services provider’s stock valued at $170,000 after buying an additional 5,948 shares during the period. APG Asset Management N.V. purchased a new position in shares of Hope Bancorp during the first quarter valued at approximately $3,778,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Hope Bancorp during the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 84.65% of the company’s stock.

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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