Jason Kim Sells 1,000 Shares of Hope Bancorp (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Jason Kim sold 1,000 shares of Hope Bancorp stock in a transaction on Friday, December 12th. The stock was sold at an average price of $11.41, for a total transaction of $11,410.00. Following the transaction, the executive vice president directly owned 79,666 shares in the company, valued at $908,989.06. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hope Bancorp Stock Down 0.5%

Shares of HOPE stock traded down $0.06 on Friday, hitting $11.52. The stock had a trading volume of 960,893 shares, compared to its average volume of 998,269. The business has a 50 day moving average of $10.64 and a 200 day moving average of $10.67. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 29.54 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $13.45.

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

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, November 7th. Hope Bancorp’s payout ratio is 143.59%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HOPE. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday. DA Davidson set a $14.50 price objective on Hope Bancorp in a research note on Wednesday, October 29th. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.25.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HOPE. Wellington Management Group LLP grew its holdings 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 worth $122,089,000 after purchasing an additional 303,019 shares during the last quarter. State Street Corp lifted its holdings in Hope Bancorp by 3.3% in the 2nd quarter. State Street Corp now owns 6,494,266 shares of the financial services provider’s stock worth $69,683,000 after buying an additional 209,442 shares during the period. American Century Companies Inc. grew its position in shares of Hope Bancorp by 6.3% in the 3rd quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider’s stock worth $34,411,000 after buying an additional 188,182 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Hope Bancorp by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,986,576 shares of the financial services provider’s stock valued at $32,050,000 after buying an additional 68,620 shares during the period. Finally, Rhino Investment Partners Inc raised its holdings 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 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 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.