Hope Bancorp (NASDAQ:HOPE) EVP Sells $22,770.00 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,650 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $13.80, for a total transaction of $22,770.00. Following the sale, the executive vice president directly owned 24,478 shares in the company, valued at approximately $337,796.40. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock opened at $13.94 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of 13.94 and a beta of 0.83. The business has a fifty day simple moving average of $13.89 and a 200-day simple moving average of $12.76. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.59.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $147.82 million for the quarter, compared to the consensus estimate of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same quarter in the previous year, the company posted ($0.22) earnings per share. On average, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 6th. Hope Bancorp’s payout ratio is 56.00%.

Analyst Ratings Changes

A number of analysts have recently issued reports on HOPE shares. Keefe, Bruyette & Woods increased their price target on shares of Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. DA Davidson boosted their price objective on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.50.

Institutional Trading of Hope Bancorp

Institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new position in Hope Bancorp in the 2nd quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in shares of Hope Bancorp during the 2nd quarter worth about $35,000. International Assets Investment Management LLC acquired a new stake in shares of Hope Bancorp during the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Hope Bancorp during the 2nd quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after buying an additional 2,558 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.