News stories about Hope Bancorp (NASDAQ:HOPE) have trended somewhat negative this week, according to Accern. The research group ranks the sentiment of news coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Hope Bancorp earned a media sentiment score of 0.00 on Accern’s scale. Accern also assigned news coverage about the financial services provider an impact score of 47.6120539926374 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Shares of Hope Bancorp (NASDAQ HOPE) traded down 1.26% on Friday, reaching $16.47. The company had a trading volume of 592,986 shares. The stock has a 50-day moving average price of $18.07 and a 200-day moving average price of $19.21. The stock has a market cap of $2.23 billion, a PE ratio of 15.04 and a beta of 1.39. Hope Bancorp has a 12 month low of $15.30 and a 12 month high of $22.99.
Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.02. Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. The firm had revenue of $132.94 million during the quarter, compared to the consensus estimate of $136.80 million. Analysts predict that Hope Bancorp will post $1.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.13 per share. This is a positive change from Hope Bancorp’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, July 27th. Hope Bancorp’s payout ratio is currently 47.71%.
Several brokerages recently commented on HOPE. FIG Partners raised Hope Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 2nd. Zacks Investment Research lowered Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Hope Bancorp in a research note on Tuesday, June 27th. Piper Jaffray Companies cut their price target on Hope Bancorp from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Monday, April 17th. Finally, BidaskClub raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Five analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $20.75.
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In other Hope Bancorp news, EVP Jason K. Kim sold 2,750 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at approximately $1,251,903.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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