Insider Selling: Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Sells $49,508.55 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 4,185 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares in the company, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, December 5th, Thomas Stenger sold 1,250 shares of Hope Bancorp stock. The stock was sold at an average price of $13.58, for a total transaction of $16,975.00.
• On Wednesday, November 6th, Thomas Stenger sold 1,250 shares of Hope Bancorp stock. The shares were sold at an average price of $12.50, for a total transaction of $15,625.00.

Hope Bancorp Trading Down 0.9 %

Shares of HOPE stock opened at $11.66 on Monday. The business has a 50-day moving average of $12.56 and a 200 day moving average of $12.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53. The stock has a market capitalization of $1.41 billion, a PE ratio of 14.22 and a beta of 1.16.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. As a group, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.14 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.80%. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Institutional Trading of Hope Bancorp

Several large investors have recently added to or reduced their stakes in HOPE. State Street Corp raised its holdings in Hope Bancorp by 1.9% in the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after purchasing an additional 112,824 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock valued at $57,192,000 after buying an additional 1,054,124 shares during the period. Geode Capital Management LLC raised its stake in Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after buying an additional 48,237 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Hope Bancorp by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock worth $29,468,000 after buying an additional 33,689 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after acquiring an additional 337,599 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

HOPE has been the topic of a number of recent analyst reports. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Piper Sandler dropped their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, DA Davidson cut their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hope Bancorp currently has a consensus rating of “Hold” and a consensus target price of $12.88.

About Hope Bancorp

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.