Thomas Stenger Sells 2,100 Shares of Hope Bancorp (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 2,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $10.00, for a total value of $21,000.00. Following the sale, the executive vice president directly owned 22,189 shares in the company, valued at $221,890. This trade represents a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Thomas Stenger also recently made the following trade(s):

• On Monday, September 15th, Thomas Stenger sold 1,602 shares of Hope Bancorp stock. The shares were sold at an average price of $10.91, for a total value of $17,477.82.

Hope Bancorp Stock Up 0.5%

Hope Bancorp stock traded up $0.05 during midday trading on Wednesday, hitting $9.96. 719,998 shares of the company’s stock were exchanged, compared to its average volume of 880,078. The company has a market cap of $1.28 billion, a PE ratio of 25.54 and a beta of 0.96. The firm has a 50-day moving average of $10.64 and a two-hundred day moving average of $10.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $14.38.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. The company had revenue of $142.03 million for the quarter, compared to the consensus estimate of $138.87 million. During the same period last year, the business posted $0.21 EPS. As a group, analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is currently 143.59%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. CKW Financial Group acquired a new position in shares of Hope Bancorp in the second quarter valued at approximately $32,000. Geneos Wealth Management Inc. boosted its position in Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 2,558 shares during the period. Versant Capital Management Inc increased its holdings in Hope Bancorp by 61.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,503 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,071 shares during the period. Finally, GAMMA Investing LLC raised its position in Hope Bancorp by 29.3% in the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,211 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

HOPE has been the topic of several research analyst reports. DA Davidson set a $14.50 price objective on Hope Bancorp in a report on Wednesday, October 29th. Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a research report on Monday. Finally, Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.25.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.