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

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

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $12.93 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.45. Hope Bancorp has a fifty-two week low of $12.48 and a fifty-two week high of $17.68. The firm has a 50-day simple moving average of $14.54 and a 200 day simple moving average of $14.66. The company has a market cap of $1.54 billion, a PE ratio of 7.14 and a beta of 1.23.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Thursday, July 28th. Hope Bancorp's dividend payout ratio is presently 30.94%.

Insider Activity

In other news, Director William J. Lewis sold 7,500 shares of the business'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 transaction of $106,725.00. Following the sale, the director now owns 17,601 shares in the company, valued at $250,462.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. NorthCrest Asset Manangement LLC increased its stake in Hope Bancorp by 1.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 54,640 shares of the financial services provider's stock valued at $879,000 after buying an additional 800 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Hope Bancorp by 0.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 137,695 shares of the financial services provider's stock worth $1,906,000 after purchasing an additional 830 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in shares of Hope Bancorp by 5.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 17,292 shares of the financial services provider's stock worth $278,000 after purchasing an additional 869 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Hope Bancorp by 2.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 49,081 shares of the financial services provider's stock worth $679,000 after purchasing an additional 958 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Hope Bancorp by 6.6% during the 2nd quarter. Captrust Financial Advisors now owns 18,129 shares of the financial services provider's stock worth $251,000 after purchasing an additional 1,127 shares during the last quarter. Institutional investors and hedge funds own 86.82% of the company's stock.

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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