Hope Bancorp (NASDAQ:HOPE) EVP Thomas Stenger Sells 1,867 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,867 shares of Hope Bancorp stock in a transaction on Monday, December 8th. The shares were sold at an average price of $11.00, for a total transaction of $20,537.00. Following the completion of the sale, the executive vice president owned 20,322 shares of the company’s stock, valued at $223,542. This represents a 8.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Thomas Stenger also recently made the following trade(s):

• On Wednesday, November 19th, Thomas Stenger sold 2,100 shares of Hope Bancorp stock. The shares were sold at an average price of $10.00, for a total value of $21,000.00.
• On Monday, September 15th, Thomas Stenger sold 1,602 shares of Hope Bancorp stock. The stock was sold at an average price of $10.91, for a total value of $17,477.82.

Hope Bancorp Trading Up 1.0%

Shares of HOPE stock opened at $11.04 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.42 billion, a P/E ratio of 28.31 and a beta of 0.89. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $13.67. The company has a 50 day moving average of $10.59 and a 200-day moving average of $10.64.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. The firm had revenue of $142.03 million during the quarter, compared to the consensus estimate of $138.87 million. During the same quarter last year, the business posted $0.21 earnings per share. Sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were given a dividend of $0.14 per share. The ex-dividend date was Friday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 5.1%. Hope Bancorp’s dividend payout ratio (DPR) is presently 143.59%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HOPE. Weiss Ratings reissued a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 1st. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 24th. DA Davidson set a $14.50 price target on Hope Bancorp in a research report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Hope Bancorp has an average rating of “Hold” and a consensus price target of $13.25.

Institutional Trading of Hope Bancorp

Several institutional investors and hedge funds have recently modified their holdings of HOPE. Wellington Management Group LLP increased its stake in shares of Hope Bancorp by 43.4% during the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock worth $64,934,000 after purchasing an additional 1,877,820 shares in the last quarter. Millennium Management LLC boosted its stake in 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 buying an additional 1,053,434 shares during the period. Rhino Investment Partners Inc increased its position in shares of Hope Bancorp by 29.8% during the third quarter. Rhino Investment Partners Inc now owns 1,896,501 shares of the financial services provider’s stock valued at $20,425,000 after acquiring an additional 435,165 shares during the last quarter. UBS Group AG raised its stake in shares of Hope Bancorp by 56.3% in the 3rd quarter. UBS Group AG now owns 1,136,902 shares of the financial services provider’s stock valued at $12,244,000 after acquiring an additional 409,633 shares during the period. Finally, Nuveen LLC purchased a new stake in Hope Bancorp during the first quarter worth about $3,451,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.