Insider Selling: Hope Bancorp (NASDAQ:HOPE) EVP Sells 1,867 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,867 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $11.00, for a total value of $20,537.00. Following the sale, the executive vice president owned 20,322 shares of the company’s stock, valued at $223,542. This represents a 8.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, November 19th, Thomas Stenger sold 2,100 shares of Hope Bancorp stock. The stock was sold at an average price of $10.00, for a total value of $21,000.00.
• On Monday, September 15th, Thomas Stenger sold 1,602 shares of Hope Bancorp stock. The shares were sold at an average price of $10.91, for a total value of $17,477.82.

Hope Bancorp Stock Up 1.0%

HOPE stock traded up $0.11 during midday trading on Monday, hitting $11.04. 1,073,630 shares of the company’s stock were exchanged, compared to its average volume of 852,475. The firm has a 50 day moving average price of $10.59 and a 200-day moving average price of $10.64. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $13.67. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 28.31 and a beta of 0.89. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06.

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 analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $142.03 million for the quarter, compared to analyst estimates of $138.87 million. Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.During the same period in the previous year, the business posted $0.21 EPS. On average, analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. Hope Bancorp’s payout ratio is presently 143.59%.

Wall Street Analysts Forecast Growth

HOPE has been the topic of several research analyst reports. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, DA Davidson set a $14.50 price objective on Hope Bancorp in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Hope Bancorp presently has a consensus rating of “Hold” and an average target price of $13.25.

Institutional Trading of Hope Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in 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 buying an additional 303,019 shares during the last quarter. State Street Corp grew its holdings in shares of 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 acquiring an additional 209,442 shares during the last quarter. American Century Companies Inc. raised its position in shares of Hope Bancorp by 6.3% during the third quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider’s stock worth $34,411,000 after purchasing an additional 188,182 shares during the period. Geode Capital Management LLC boosted its position in shares of Hope Bancorp by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,986,576 shares of the financial services provider’s stock valued at $32,050,000 after purchasing an additional 68,620 shares during the period. Finally, Rhino Investment Partners Inc increased its stake in Hope Bancorp by 29.8% in the 3rd quarter. Rhino Investment Partners Inc now owns 1,896,501 shares of the financial services provider’s stock worth $20,425,000 after purchasing an additional 435,165 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.