Hope Bancorp (NASDAQ:HOPE) EVP Sells $19,020.00 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,500 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $12.68, for a total value of $19,020.00. Following the completion of the transaction, the executive vice president directly owned 26,128 shares in the company, valued at approximately $331,303.04. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $13.01 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $12.34 and its two-hundred day simple moving average is $11.75. The stock has a market cap of $1.66 billion, a PE ratio of 25.02 and a beta of 0.84. Hope Bancorp, Inc. has a 52 week low of $9.44 and a 52 week high of $13.09.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. The business had revenue of $133.82 million for the quarter, compared to analysts’ expectations of $145.30 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $0.17 earnings per share. As a group, analysts forecast that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 4.3%. Hope Bancorp’s dividend payout ratio (DPR) is currently 107.69%.

Wall Street Analyst Weigh In

HOPE has been the topic of a number of recent analyst reports. Brean Capital raised Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings raised Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Monday, April 6th. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, DA Davidson lifted their target price on Hope Bancorp from $14.50 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in Hope Bancorp in the fourth quarter worth about $28,000. International Assets Investment Management LLC purchased a new position in Hope Bancorp in the fourth quarter worth about $29,000. Geneos Wealth Management Inc. grew its position in Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Hope Bancorp by 375.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 2,862 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew 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 worth $54,000 after acquiring an additional 3,071 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.