Hope Bancorp, Inc. (NASDAQ:HOPE) Director Purchases $106,000.00 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) Director William J. Lewis acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the transaction, the director now owns 27,887 shares in the company, valued at approximately $295,602.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hope Bancorp Stock Down 5.7 %

HOPE opened at $10.59 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 1.00. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 5.85 and a beta of 1.19. The business has a 50-day moving average of $12.65 and a two-hundred day moving average of $13.17. Hope Bancorp, Inc. has a 12 month low of $9.93 and a 12 month high of $16.88.

Hope Bancorp (NASDAQ:HOPE – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.02). The business had revenue of $236.35 million during the quarter, compared to analysts’ expectations of $168.70 million. Hope Bancorp had a net margin of 28.44% and a return on equity of 10.86%. During the same quarter last year, the firm earned $0.43 EPS. On average, research analysts expect that Hope Bancorp, Inc. will post 1.52 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Thursday, February 2nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.29%. The ex-dividend date was Wednesday, February 1st. Hope Bancorp’s dividend payout ratio (DPR) is 30.94%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Hope Bancorp in a research report on Thursday. They set a “hold” rating for the company.

Institutional Trading of Hope Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in shares of Hope Bancorp by 169.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,816 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 1,770 shares in the last quarter. Ronald Blue Trust Inc. lifted its stake in shares of Hope Bancorp by 56.1% in the 4th quarter. Ronald Blue Trust Inc. now owns 2,942 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,057 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new position in shares of Hope Bancorp in the 3rd quarter valued at about $40,000. Royal Bank of Canada lifted its stake in shares of Hope Bancorp by 67.9% in the 3rd quarter. Royal Bank of Canada now owns 4,092 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in shares of Hope Bancorp by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,313 shares in the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.

Hope Bancorp Company Profile

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Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.