DA Davidson Has Lowered Expectations for Hope Bancorp (NASDAQ:HOPE) Stock Price

Hope Bancorp (NASDAQ:HOPE) had its price objective lowered by DA Davidson from $15.50 to $14.50 in a report issued on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Hope Bancorp’s Q1 2025 earnings at $0.17 EPS and FY2025 earnings at $1.32 EPS.

Separately, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.88.

Hope Bancorp Trading Up 0.7 %

Shares of HOPE stock opened at $11.76 on Tuesday. Hope Bancorp has a 1 year low of $9.80 and a 1 year high of $14.53. The firm has a market capitalization of $1.42 billion, a PE ratio of 14.00 and a beta of 1.16. The stock has a fifty day moving average of $12.60 and a two-hundred day moving average of $12.64. 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 (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. As a group, research analysts expect that Hope Bancorp will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a $0.14 dividend. The ex-dividend date is Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.76%. Hope Bancorp’s payout ratio is currently 66.67%.

Insider Transactions at Hope Bancorp

In other news, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value of $1,287,944.60. Following the transaction, the director now owns 3,167,023 shares in the company, valued at $42,216,416.59. This represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daisy Y. Ha sold 27,104 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $13.83, for a total transaction of $374,848.32. Following the sale, the director now owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,224 shares of company stock valued at $1,737,873 over the last quarter. Company insiders own 5.29% of the company’s stock.

Institutional Investors Weigh In On Hope Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOPE. Jane Street Group LLC increased its stake in shares of Hope Bancorp by 66.8% in the third quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock worth $2,147,000 after acquiring an additional 68,460 shares during the last quarter. Principal Financial Group Inc. grew its stake in Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after purchasing an additional 53,587 shares in the last quarter. JPMorgan Chase & Co. increased its position in Hope Bancorp by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock worth $11,218,000 after purchasing an additional 95,570 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after purchasing an additional 337,599 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Hope Bancorp by 109.9% during the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock valued at $3,183,000 after buying an additional 132,677 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

About Hope Bancorp

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.