Insider Selling: Hope Bancorp (NASDAQ:HOPE) EVP Sells 3,200 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 3,200 shares of the firm’s stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $13.10, for a total value of $41,920.00. Following the completion of the sale, the executive vice president directly owned 27,552 shares of the company’s stock, valued at $360,931.20. This represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hope Bancorp Stock Performance

Shares of HOPE traded down $0.04 during mid-day trading on Friday, hitting $13.02. The stock had a trading volume of 729,032 shares, compared to its average volume of 1,000,189. The firm has a market cap of $1.66 billion, a P/E ratio of 12.52 and a beta of 0.90. The business has a fifty day moving average price of $13.61 and a 200-day moving average price of $12.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.96 and a quick ratio of 0.97. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.59.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. The firm had revenue of $157.48 million for the quarter, compared to analysts’ expectations of $151.34 million. Hope Bancorp had a return on equity of 5.97% and a net margin of 12.90%. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities research analysts expect that Hope Bancorp, Inc. will post 1.07 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Saturday, November 7th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, November 6th. Hope Bancorp’s payout ratio is currently 53.85%.

Wall Street Analyst Weigh In

HOPE has been the topic of several recent research reports. Zacks Research downgraded shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 3rd. Piper Sandler cut their target price on shares of Hope Bancorp from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Benchmark upgraded shares of Hope Bancorp to a “hold” rating in a research note on Wednesday, September 23rd. Keefe, Bruyette & Woods boosted their price target on shares of Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Finally, DA Davidson lowered shares of Hope Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the company from $16.00 to $14.00 in a research report on Friday, October 30th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Hedge Funds Weigh In On Hope Bancorp

A number of large investors have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new position in shares of Hope Bancorp in the third quarter valued at $25,000. Farther Finance Advisors LLC raised its stake in shares of Hope Bancorp by 210.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,514 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,703 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Hope Bancorp during the 2nd quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in Hope Bancorp during the 2nd quarter worth about $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Hope Bancorp during the 2nd quarter worth about $36,000. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Company Profile

Hope Bancorp, Inc. is the bank holding company for Bank of Hope, a commercial bank headquartered in Los Angeles. Bank of Hope was formed in 2016 through the merger of BBCN Bank and Wilshire Bank, bringing together institutions with roots in serving Korean-American communities. The bank provides deposit accounts, commercial and consumer lending, and other banking services to individuals and businesses. Its offerings include commercial real estate and business loans, small-business lending, treasury management, and online and mobile banking.