Hope Bancorp (NASDAQ:HOPE) EVP Sells $20,537.00 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,867 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $11.00, for a total transaction of $20,537.00. Following the completion of the sale, the executive vice president directly owned 20,322 shares of the company’s stock, valued at $223,542. The trade was a 8.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, November 19th, Thomas Stenger sold 2,100 shares of Hope Bancorp stock. The stock was sold at an average price of $10.00, for a total value of $21,000.00.
• 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 Performance

Shares of NASDAQ HOPE traded up $0.11 during mid-day trading on Monday, hitting $11.04. 1,073,630 shares of the company were exchanged, compared to its average volume of 852,475. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 28.31 and a beta of 0.89. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. Hope Bancorp, Inc. has a 1-year low of $8.82 and a 1-year high of $13.67. The stock has a 50 day simple moving average of $10.59 and a 200-day simple moving average of $10.64.

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 firm had revenue of $142.03 million for the quarter, compared to analysts’ expectations of $138.87 million. Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.During the same period in the prior year, the company earned $0.21 earnings per share. On average, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, November 7th. Hope Bancorp’s payout ratio is 143.59%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HOPE. Wellington Management Group LLP raised its holdings in shares of Hope Bancorp by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider’s stock worth $122,089,000 after purchasing an additional 303,019 shares during the period. State Street Corp grew its stake in Hope Bancorp by 3.3% during the second quarter. State Street Corp now owns 6,494,266 shares of the financial services provider’s stock worth $69,683,000 after buying an additional 209,442 shares during the period. American Century Companies Inc. increased its position in shares of Hope Bancorp by 6.3% in the third quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider’s stock worth $34,411,000 after acquiring an additional 188,182 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hope Bancorp by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,986,576 shares of the financial services provider’s stock valued at $32,050,000 after acquiring an additional 68,620 shares during the period. Finally, Rhino Investment Partners Inc lifted its holdings in shares of Hope Bancorp by 29.8% during the 3rd quarter. Rhino Investment Partners Inc now owns 1,896,501 shares of the financial services provider’s stock valued at $20,425,000 after acquiring an additional 435,165 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. DA Davidson set a $14.50 price target on Hope Bancorp in a research report on Wednesday, October 29th. Wall Street Zen raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Hope Bancorp presently has a consensus 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.