Hope Bancorp (NASDAQ:HOPE) Given New $14.50 Price Target at DA Davidson

Hope Bancorp (NASDAQ:HOPE) had its price target reduced by stock analysts at DA Davidson from $15.50 to $14.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective points to a potential upside of 21.39% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock traded down $0.31 on Tuesday, reaching $11.95. 353,940 shares of the company traded hands, compared to its average volume of 640,263. The firm has a market capitalization of $1.44 billion, a PE ratio of 14.18 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day moving average of $12.70 and a 200 day moving average of $12.65. Hope Bancorp has a 52 week low of $9.80 and a 52 week high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. Equities analysts forecast that Hope Bancorp will post 0.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the sale, the executive vice president now owns 19,795 shares in the company, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Koh sold 96,620 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the transaction, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,224 shares of company stock valued at $1,737,873. Company insiders own 5.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. EMC Capital Management grew its position in Hope Bancorp by 1,082.6% during the fourth quarter. EMC Capital Management now owns 29,566 shares of the financial services provider’s stock worth $363,000 after buying an additional 27,066 shares during the period. KBC Group NV lifted its holdings in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,901 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 848 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 47.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after purchasing an additional 337,599 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Hope Bancorp by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock valued at $11,218,000 after purchasing an additional 95,570 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.