Espoir Bancorp (NASDAQ: ESPOIR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report released Wednesday to clients and investors, Zacks.com reports. The brokerage currently has a target price of $ 16.00 on the shares of the financial services provider. Zacks Investment Research’s price target suggests a potential rise of 9.14% from the current share price.
According to Zacks, “Hope Bancorp Inc. operates as a bank holding company that provides commercial banking services primarily to small and medium businesses and individuals primarily in the United States. Its products and services consist of deposits, loans, equipment rental finance. and discounting of post-dated checks and factoring. The company operates its business primarily in California, New York, New Jersey, Washington and Illinois. Hope Bancorp, Inc., formerly known as BBCN Bancorp, Inc., is headquartered in Los Angeles, California. “
In addition, DA Davidson upgraded Hope Bancorp’s stock from a “neutral” to a “buy” rating and increased its target price for the share from $ 17.00 to $ 18.00 in a year. research note Monday, November 15.
HOPE opened at $ 14.66 on Wednesday. The company has a debt ratio of 0.25, a current ratio of 0.94, and a quick ratio of 0.93. The company has a 50-day simple moving average of $ 14.79. Hope Bancorp has a one-year low at $ 10.65 and a one-year high at $ 16.61. The stock has a market cap of $ 1.76 billion, a price-to-earnings ratio of 10.04 and a beta of 1.50.
Hope Bancorp (NASDAQ: HOPE) last reported its quarterly results on Sunday, October 24. The financial services provider reported earnings per share (EPS) of $ 0.45 for the quarter, beating Zacks’ consensus estimate of $ 0.42 by $ 0.03. The company posted revenue of $ 140.91 million in the quarter, compared to a consensus estimate of $ 136.92 million. Hope Bancorp had a net margin of 29.96% and a return on equity of 8.77%. In the same quarter of last year, the company achieved EPS of $ 0.25. On average, sell-side analysts predict that Hope Bancorp will post 1.64 EPS for the current year.
Institutional investors and hedge funds recently changed their positions in the stock. Zeke Capital Advisors LLC increased its stake in Hope Bancorp by 7.9% in the third quarter. Zeke Capital Advisors LLC now owns 29,076 shares of the financial services provider valued at $ 420,000 after purchasing an additional 2,125 shares during the period. UBS Asset Management Americas Inc. increased its position in Hope Bancorp by 4.5% in the third quarter. UBS Asset Management Americas Inc. now owns 169,639 shares of the financial services provider valued at $ 2,450,000 after purchasing an additional 7,382 shares during the period. Comerica Bank increased its position in Hope Bancorp by 0.7% during the third quarter. Comerica Bank now owns 176,785 shares of the financial services provider valued at $ 2,622,000 after purchasing an additional 1,199 shares during the period. Captrust Financial Advisors increased its position in Hope Bancorp by 32.6% in the third quarter. Captrust Financial Advisors now owns 13,230 shares of the financial services provider valued at $ 191,000 after purchasing an additional 3,255 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Hope Bancorp by 31.0% during the third quarter. Thrivent Financial for Lutherans now owns 1,539,769 shares of the financial services provider valued at $ 22,234,000 after purchasing an additional 364,663 shares during the period. 83.76% of the shares are held by hedge funds and other institutional investors.
About Hope Bancorp
Hope Bancorp, Inc is a banking holding company which provides financial services through its subsidiary, Bank of Hope. The company offers basic banking products to small and medium-sized businesses and individuals. Its products and services include certificates of deposit, online banking, bill payment, mobile banking, credit cards and mortgages.
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