Hope Bancorp (NASDAQ:HOPE – Get Rating) had its price target cut by Piper Sandler to $15.00 in a research note released on Friday, Stock Target Advisor reports.

Several other brokerages have also recently weighed in on HOPE. StockNews.com upgraded Hope Bancorp from a hold rating to a buy rating in a research report on Thursday, June 23rd. Wedbush upped their price target on Hope Bancorp to $16.00 in a research report on Friday, July 22nd.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $12.64 on Friday. The company has a market cap of $1.51 billion, a PE ratio of 6.98 and a beta of 1.24. Hope Bancorp has a 52 week low of $12.48 and a 52 week high of $17.68. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.45. The firm's 50-day simple moving average is $14.58 and its two-hundred day simple moving average is $14.72.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, July 28th. Hope Bancorp's dividend payout ratio (DPR) is 30.94%.

Insider Buying and Selling

In related news, Director William J. Lewis sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $14.23, for a total value of $106,725.00. Following the transaction, the director now directly owns 17,601 shares in the company, valued at $250,462.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HOPE. Macquarie Group Ltd. increased its position in shares of Hope Bancorp by 84.3% in the second quarter. Macquarie Group Ltd. now owns 3,620,495 shares of the financial services provider's stock worth $50,108,000 after purchasing an additional 1,656,400 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Hope Bancorp by 89.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider's stock valued at $31,954,000 after acquiring an additional 1,092,042 shares during the last quarter. Victory Capital Management Inc. grew its position in Hope Bancorp by 75.7% during the first quarter. Victory Capital Management Inc. now owns 1,154,478 shares of the financial services provider's stock valued at $16,509,000 after acquiring an additional 497,269 shares during the last quarter. State Street Corp grew its position in Hope Bancorp by 7.2% during the first quarter. State Street Corp now owns 7,013,612 shares of the financial services provider's stock valued at $112,779,000 after acquiring an additional 469,232 shares during the last quarter. Finally, Invesco Ltd. grew its position in Hope Bancorp by 49.6% during the fourth quarter. Invesco Ltd. now owns 854,343 shares of the financial services provider's stock valued at $12,567,000 after acquiring an additional 283,130 shares during the last quarter. 86.82% of the stock is currently owned by institutional investors.

Hope Bancorp Company Profile

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Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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