Hope Bancorp (NASDAQ:HOPE) EVP Thomas Stenger Sells 1,650 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,650 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $13.80, for a total transaction of $22,770.00. Following the completion of the transaction, the executive vice president owned 24,478 shares of the company’s stock, valued at approximately $337,796.40. This trade represents a 6.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hope Bancorp Stock Down 1.1%

Shares of Hope Bancorp stock traded down $0.16 during trading hours on Wednesday, reaching $13.82. 527,766 shares of the company were exchanged, compared to its average volume of 765,755. The firm has a market cap of $1.77 billion, a PE ratio of 13.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.59. The stock’s fifty day moving average is $13.87 and its 200 day moving average is $12.74.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The firm had revenue of $147.82 million during the quarter, compared to analyst estimates of $146.50 million. During the same period last year, the business posted ($0.22) earnings per share. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.1%. Hope Bancorp’s payout ratio is currently 56.00%.

Analyst Ratings Changes

Several analysts recently weighed in on HOPE shares. DA Davidson raised their target price on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods increased their price objective 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. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.50.

Hedge Funds Weigh In On Hope Bancorp

A number of hedge funds have recently modified their holdings of the business. Royal Bank of Canada boosted its holdings in shares of Hope Bancorp by 91.5% in the first quarter. Royal Bank of Canada now owns 32,828 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 15,687 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Hope Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,936 shares of the financial services provider’s stock worth $722,000 after acquiring an additional 3,005 shares during the last quarter. Millennium Management LLC raised its stake in Hope Bancorp by 147.1% in the 1st quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider’s stock valued at $5,153,000 after purchasing an additional 292,994 shares during the last quarter. Caxton Associates LLP acquired a new stake in Hope Bancorp in the 1st quarter worth about $297,000. Finally, Jane Street Group LLC grew its holdings in Hope Bancorp by 676.8% in the first quarter. Jane Street Group LLC now owns 227,116 shares of the financial services provider’s stock valued at $2,378,000 after purchasing an additional 197,877 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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.