Espoir Bancorp (NASDAQ: ESPOIR) has been improved by Zacks investment research from a “keep” note to a “buy” note in a report published on Thursday, Zacks.com reports. The company currently has a target price of $ 16.00 on shares of the financial services provider. Zacks investment researchThe target stock price suggests a potential rise of 10.80% from the current stock price.
According to Zacks, âHope Bancorp Inc. operates as a banking 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 financing. 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.
NASDAQ: HOPE shares traded down $ 0.16 during the noon session on Thursday, reaching $ 14.44. 595,195 shares were traded, for an average volume of 776,326. The stock has a market cap of $ 1.77 billion, a price / earnings ratio of 11.46 and a beta of 1.66. The company has a debt ratio of 0.25, a quick ratio of 0.96, and a current ratio of 0.96. The company’s 50-day average mobile price is $ 13.68, and its 200-day average mobile price is $ 14.48. Hope Bancorp has a 12 month low of $ 7.37 and a 12 month high of $ 16.61.
Hope Bancorp (NASDAQ: HOPE) last reported its results on Monday, July 19. The financial services provider reported EPS of $ 0.43 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.38 of $ 0.05. Hope Bancorp recorded a return on equity of 7.59% and a net margin of 25.44%. The company posted revenue of $ 137.65 million for the quarter, compared to analysts’ expectations of $ 135.16 million. During the same period of the previous year, the company reported earnings of $ 0.22 per share. The company’s revenue grew 13.7% year-over-year. As a group, sell-side analysts expect Hope Bancorp to post 1.62 EPS for the current year.
In other news from Hope Bancorp, EVP Thomas stenger sold 3,694 shares of the company in a transaction that took place on Tuesday, August 24. The stock was sold for an average price of $ 13.93, for a total value of $ 51,457.42. Following the transaction, the Executive Vice President now directly owns 2,755 shares of the company, valued at $ 38,377.15. The sale was disclosed in a legal file with the SEC, which is available through this link. 5.29% of the shares are currently held by insiders.
Several large investors have recently changed their holdings to HOPE. The Toronto Dominion Bank increased its position in shares of Hope Bancorp by 48.9% during the second quarter. The Toronto Dominion Bank now owns 2,792 shares of the financial services provider valued at $ 40,000 after purchasing an additional 917 shares during the period. Eaton Vance Management acquired a new position in shares of Hope Bancorp during the first quarter valued at approximately $ 59,000. Amundi Pioneer Asset Management Inc. took a new stake in Hope Bancorp in the 1st quarter for a value of $ 140,000. O Shaughnessy Asset Management LLC increased its position in Hope Bancorp by 23.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,484 shares of the financial services provider valued at $ 143,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Hope Bancorp by 1,957.6% in the 1st quarter. Captrust Financial Advisors now owns 10,082 shares of the financial services provider valued at $ 152,000 after purchasing an additional 9,592 shares in the last quarter. 83.93% of the shares are currently held by 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.
See also: Green investment
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