Daisy Ha Sells 12,000 Shares of Hope Bancorp (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 12,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total value of $150,360.00. Following the completion of the sale, the director directly owned 373,115 shares of the company’s stock, valued at approximately $4,675,130.95. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hope Bancorp Trading Down 0.9%

NASDAQ HOPE opened at $12.41 on Friday. Hope Bancorp, Inc. has a 1-year low of $9.44 and a 1-year high of $13.02. The company has a current ratio of 0.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $11.69 and a 200-day moving average of $11.40. The firm has a market cap of $1.59 billion, a PE ratio of 23.87 and a beta of 0.84.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The company had revenue of $126.69 million during the quarter, compared to analyst estimates of $145.30 million. During the same quarter in the previous year, the company posted $0.17 EPS. Hope Bancorp’s revenue for the quarter was up 21.0% on a year-over-year basis. As a group, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be paid 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 of this dividend is Friday, May 8th. Hope Bancorp’s payout ratio is 107.69%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rhino Investment Partners Inc increased its holdings in 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 purchasing an additional 435,165 shares during the period. Public Sector Pension Investment Board increased its holdings in Hope Bancorp by 15.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 499,967 shares of the financial services provider’s stock valued at $5,385,000 after purchasing an additional 67,742 shares during the period. American Century Companies Inc. increased its holdings in Hope Bancorp by 6.3% during the 3rd quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider’s stock valued at $34,411,000 after purchasing an additional 188,182 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Hope Bancorp during the 3rd quarter valued at about $788,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Hope Bancorp during the 3rd quarter valued at about $97,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. DA Davidson boosted their target price on Hope Bancorp from $14.50 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Brean Capital upgraded Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $13.00 to $14.00 and gave the company a “market perform” rating in a report on Monday, April 6th. Finally, Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.50.

Hope Bancorp Company Profile

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.