KBW analyst Christopher Mcgratty maintained a Hold rating on Hope Bancorp (HOPE – Research Report) yesterday and set a price target of $13.00. The company’s shares closed yesterday at $11.42.
Mcgratty covers the Financial sector, focusing on stocks such as Webster Financial, Associated Banc-Corp, and Hope Bancorp. According to TipRanks, Mcgratty has an average return of 10.9% and a 65.08% success rate on recommended stocks.
Currently, the analyst consensus on Hope Bancorp is a Hold with an average price target of $12.33, implying a 7.97% upside from current levels. In a report released yesterday, Wedbush also maintained a Hold rating on the stock with a $12.00 price target.
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Based on Hope Bancorp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $147.7 million and a net profit of $38.02 million. In comparison, last year the company earned a revenue of $154.28 million and had a net profit of $52.09 million
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HOPE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Hope Bancorp (HOPE) Company Description:
Hope Bancorp, Inc. is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans. The company was founded in February 2000 and is headquartered in Los Angeles, CA.
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