Today’s Price Action: Can Hope Bancorp Inc’s Tomorrow be Different? The Stock Just Broke Its High

Today's Price Action: Can Hope Bancorp Inc's Tomorrow be Different? The Stock Just Broke Its High

The stock of Hope Bancorp Inc (NASDAQ:HOPE) hit a new 52-week high and has $28.21 target or 44.00% above today’s $19.59 share price. The 7 months bullish chart indicates low risk for the $2.71B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $28.21 price target is reached, the company will be worth $1.19 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 282,449 shares traded hands. Hope Bancorp Inc (NASDAQ:HOPE) has risen 23.24% since April 19, 2016 and is uptrending. It has outperformed by 19.38% the S&P500.

According to Zacks Investment Research, “Hope Bancorp Inc. operates as the bank holding company which provides commercial banking services primarily to small- to medium-sized businesses and individuals primarily in the United States. Its product and services consists of deposits, loans, equipment lease financing and postdated check discount as well as factoring. The company operates 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.”

More recent Hope Bancorp Inc (NASDAQ:HOPE) news were published by: Nasdaq.com which released: “Hope Bancorp, Inc. (HOPE), Interview with Kevin Kim, CEO” on November 08, 2016. Also Globenewswire.com published the news titled: “Hope Bancorp Announces Branch Optimization Plan and Expansion in Houston Market” on September 26, 2016. Reuters.com‘s news article titled: “BRIEF-BBCN, Wilshire say combined company to be called “Hope Bancorp Inc”” with publication date: May 13, 2016 was also an interesting one.

HOPE Company Profile

Hope Bancorp, Inc., formerly BBCN Bancorp, Inc., incorporated on June 5, 2000, is the holding firm of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama. The Bank also operates small business administration (SBA) loan production offices in Seattle, Denver, Dallas, Atlanta, Northern California, Annandale, Virginia, Portland, Oregon and Fremont, California; residential mortgage loan production offices in California, and a representative office in Seoul, Korea. Bank of Hope specializes in business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Bank of Hope is an Equal Opportunity Lender.

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