Hope Bancorp (NASDAQ:HOPE) Director Sells $387,129.60 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 31,020 shares of Hope Bancorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $12.48, for a total value of $387,129.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hope Bancorp Price Performance

Shares of Hope Bancorp stock traded down $0.06 during mid-day trading on Friday, reaching $12.51. 948,318 shares of the stock traded hands, compared to its average volume of 961,086. The stock has a market capitalization of $1.60 billion, a PE ratio of 27.20 and a beta of 0.87. The business has a 50-day moving average of $11.51 and a 200 day moving average of $10.92. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $12.79. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $145.76 million during the quarter, compared to analysts’ expectations of $142.90 million. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. On average, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, February 6th. Hope Bancorp’s dividend payout ratio is 121.74%.

Institutional Investors Weigh In On Hope Bancorp

Several institutional investors and hedge funds have recently modified their holdings of HOPE. Millennium Management LLC boosted its holdings in Hope Bancorp by 366.8% during the 3rd quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock valued at $14,439,000 after acquiring an additional 1,053,434 shares during the period. UBS Group AG lifted its position in shares of Hope Bancorp by 73.5% during the fourth quarter. UBS Group AG now owns 1,972,716 shares of the financial services provider’s stock worth $21,621,000 after purchasing an additional 835,814 shares in the last quarter. Rhino Investment Partners Inc boosted its stake in shares of Hope Bancorp by 29.8% in the third quarter. Rhino Investment Partners Inc now owns 1,896,501 shares of the financial services provider’s stock valued at $20,425,000 after purchasing an additional 435,165 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Hope Bancorp by 54.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 877,835 shares of the financial services provider’s stock valued at $9,419,000 after purchasing an additional 308,646 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Hope Bancorp by 2.7% in the third quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider’s stock valued at $122,089,000 after purchasing an additional 303,019 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HOPE shares. Zacks Research lowered shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday. DA Davidson restated a “buy” rating and set a $14.50 target price on shares of Hope Bancorp in a report on Wednesday, January 28th. Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Keefe, Bruyette & Woods raised their target price on Hope Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.75.

About Hope Bancorp

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.