Hope Bancorp (NASDAQ:HOPE) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01), Briefing.com reports. Hope Bancorp had a return on equity of 9.48% and a net margin of 24.99%. During the same quarter in the prior year, the firm posted $0.36 earnings per share.
NASDAQ:HOPE opened at $13.99 on Wednesday. Hope Bancorp has a one year low of $11.37 and a one year high of $17.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 9.72, a P/E/G ratio of 1.24 and a beta of 1.47. The firm has a 50-day simple moving average of $13.49.
HOPE has been the subject of several research reports. ValuEngine upgraded shares of Yirendai from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Hope Bancorp currently has a consensus rating of “Hold” and a consensus target price of $16.00.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Hope Bancorp in the 4th quarter valued at $22,668,000. BlackRock Inc. raised its holdings in Hope Bancorp by 3.1% during the fourth quarter. BlackRock Inc. now owns 18,737,782 shares of the financial services provider’s stock worth $222,230,000 after purchasing an additional 558,951 shares in the last quarter. Brandywine Global Investment Management LLC increased its holdings in shares of Hope Bancorp by 72.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 695,593 shares of the financial services provider’s stock valued at $8,250,000 after acquiring an additional 292,430 shares during the period. Acadian Asset Management LLC acquired a new position in Hope Bancorp in the 1st quarter valued at $2,843,000. Finally, Principal Financial Group Inc. increased its stake in Hope Bancorp by 4.1% in the 1st quarter. Principal Financial Group Inc. now owns 4,503,626 shares of the financial services provider’s stock valued at $58,909,000 after buying an additional 175,913 shares during the period. Hedge funds and other institutional investors own 87.22% of the company’s stock.
About Hope Bancorp
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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