Hope Bancorp (NASDAQ:HOPE) EVP Jason Kim Sells 1,000 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Jason Kim sold 1,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $11.54, for a total transaction of $11,540.00. Following the completion of the sale, the executive vice president directly owned 81,666 shares of the company’s stock, valued at $942,425.64. This trade represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hope Bancorp Trading Down 0.5%

NASDAQ:HOPE traded down $0.06 during trading hours on Friday, reaching $11.52. The company’s stock had a trading volume of 960,893 shares, compared to its average volume of 998,269. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 29.54 and a beta of 0.89. The firm has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $10.67. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $13.45. 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 (NASDAQ:HOPE) last posted its quarterly 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). The business had revenue of $142.03 million for the quarter, compared to analysts’ expectations of $138.87 million. Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. During the same quarter in the previous year, the company earned $0.21 earnings per share. Research analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, November 7th. Hope Bancorp’s payout ratio is 143.59%.

Institutional Trading of Hope Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Hope Bancorp by 43.4% during the 1st quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock valued at $64,934,000 after acquiring an additional 1,877,820 shares in the last quarter. Millennium Management LLC boosted its position in shares of Hope Bancorp by 366.8% during the third quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock valued at $14,439,000 after purchasing an additional 1,053,434 shares in the last quarter. Rhino Investment Partners Inc grew its stake in 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 worth $20,425,000 after purchasing an additional 435,165 shares during the period. UBS Group AG raised its holdings in Hope Bancorp by 56.3% in the third quarter. UBS Group AG now owns 1,136,902 shares of the financial services provider’s stock worth $12,244,000 after purchasing an additional 409,633 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Hope Bancorp during the first quarter valued at $3,451,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HOPE. Wall Street Zen raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 24th. DA Davidson set a $14.50 price objective on shares of Hope Bancorp in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Hope Bancorp currently has an average rating of “Hold” and an average 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.