Insider Selling: Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Sells $16,975.00 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,250 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $13.58, for a total value of $16,975.00. Following the completion of the sale, the executive vice president now directly owns 23,452 shares of the company’s stock, valued at $318,478.16. This represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 Stock Down 0.2 %

HOPE opened at $13.45 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of 16.01 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s fifty day moving average price is $13.09 and its two-hundred day moving average price is $12.13. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last issued 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). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The business had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. During the same quarter last year, the firm posted $0.25 earnings per share. On average, analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.16%. Hope Bancorp’s payout ratio is presently 66.67%.

Hedge Funds Weigh In On Hope Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of HOPE. Assenagon Asset Management S.A. increased its holdings in shares of Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after purchasing an additional 1,632,384 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Hope Bancorp by 30.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock valued at $57,192,000 after acquiring an additional 1,054,124 shares during the period. Jupiter Asset Management Ltd. boosted its position in shares of Hope Bancorp by 800.0% during the second quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 470,394 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Hope Bancorp by 17.4% in the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after acquiring an additional 296,469 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Hope Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after buying an additional 218,302 shares during the period. Institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday.

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.