Insider Selling: Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Sells 1,250 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,250 shares of Hope Bancorp stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total value of $15,625.00. Following the completion of the transaction, the executive vice president now directly owns 24,702 shares of the company’s stock, valued at approximately $308,775. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, August 16th, Thomas Stenger sold 3,200 shares of Hope Bancorp stock. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00.

Hope Bancorp Stock Down 5.9 %

Shares of HOPE stock traded down $0.85 on Thursday, reaching $13.50. 1,089,145 shares of the stock were exchanged, compared to its average volume of 731,040. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 16.07 and a beta of 1.13. The business’s 50 day moving average price is $12.60 and its 200 day moving average price is $11.69. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. Hope Bancorp, Inc. has a twelve month low of $9.02 and a twelve month high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter last year, the company posted $0.25 EPS. As a group, sell-side analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Thursday, November 7th. Hope Bancorp’s payout ratio is currently 66.67%.

Institutional Investors Weigh In On Hope Bancorp

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in Hope Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 410,454 shares of the financial services provider’s stock worth $5,155,000 after purchasing an additional 20,904 shares in the last quarter. Victory Capital Management Inc. increased its position in Hope Bancorp by 18.2% during the 3rd quarter. Victory Capital Management Inc. now owns 166,609 shares of the financial services provider’s stock worth $2,093,000 after purchasing an additional 25,654 shares during the period. Principal Financial Group Inc. raised its stake in shares of Hope Bancorp by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after buying an additional 53,587 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Hope Bancorp by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock valued at $266,000 after buying an additional 2,534 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Hope Bancorp in the third quarter valued at approximately $48,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on HOPE. StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

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.