Daisy Ha Sells 25,533 Shares of Hope Bancorp (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 25,533 shares of Hope Bancorp stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $12.57, for a total transaction of $320,949.81. Following the completion of the sale, the director owned 31,020 shares of the company’s stock, valued at approximately $389,921.40. This trade represents a 45.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Hope Bancorp Stock Down 0.5%

NASDAQ HOPE traded down $0.06 during trading hours on Friday, reaching $12.51. 948,318 shares of the company traded hands, compared to its average volume of 961,086. The stock has a market capitalization of $1.60 billion, a PE ratio of 27.20 and a beta of 0.87. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $12.79. The company has a 50 day moving average of $11.51 and a two-hundred day moving average of $10.92.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, January 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 net margin of 5.81% and a return on equity of 5.09%. The business had revenue of $145.76 million for the quarter, compared to analyst estimates of $142.90 million. During the same quarter in the prior year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. As a group, equities analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is currently 121.74%.

Hedge Funds Weigh In On Hope Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of HOPE. Millennium Management LLC grew its position in shares of Hope Bancorp by 366.8% during the third quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock worth $14,439,000 after acquiring an additional 1,053,434 shares during the last quarter. UBS Group AG lifted its position in Hope Bancorp by 73.5% in the 4th quarter. UBS Group AG now owns 1,972,716 shares of the financial services provider’s stock valued at $21,621,000 after purchasing an additional 835,814 shares during the last quarter. Rhino Investment Partners Inc boosted its stake 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. Arrowstreet Capital Limited Partnership grew its position in Hope Bancorp by 54.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 877,835 shares of the financial services provider’s stock worth $9,419,000 after purchasing an additional 308,646 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Hope Bancorp by 2.7% in the third quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider’s stock valued at $122,089,000 after purchasing an additional 303,019 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

HOPE has been the topic of several research reports. Zacks Research lowered Hope Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday. Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and issued a $14.50 price target on shares of Hope Bancorp in a report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Hope Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Wednesday, January 28th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.75.

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.