Hope Bancorp (NASDAQ:HOPE) Stock: Insider Angelee Harris Sells 3,200 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 3,200 shares of Hope Bancorp stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $13.10, for a total value of $41,920.00. Following the completion of the sale, the executive vice president directly owned 27,552 shares in the company, valued at approximately $360,931.20. This represents a 10.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hope Bancorp Stock Down 0.3%

NASDAQ HOPE traded down $0.04 during trading on Friday, hitting $13.02. The stock had a trading volume of 729,032 shares, compared to its average volume of 1,282,449. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.59. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.96. The company’s 50-day moving average price is $13.59 and its two-hundred day moving average price is $12.89. The company has a market capitalization of $1.66 billion, a PE ratio of 12.52 and a beta of 0.90.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. Hope Bancorp had a net margin of 12.90% and a return on equity of 5.97%. The company had revenue of $157.48 million during the quarter, compared to analysts’ expectations of $151.34 million. During the same period last year, the business earned $0.25 EPS. As a group, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.07 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Saturday, November 7th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a yield of 4.3%. Hope Bancorp’s dividend payout ratio is presently 53.85%.

Analyst Ratings Changes

A number of research firms recently weighed in on HOPE. Piper Sandler decreased their target price on shares of Hope Bancorp from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Zacks Research cut shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 3rd. DA Davidson downgraded shares of Hope Bancorp from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $14.00 in a research note on Friday, October 30th. Weiss Ratings upgraded Hope Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, October 27th. Finally, Keefe, Bruyette & Woods raised their price objective on Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Investors Weigh In On Hope Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in shares of Hope Bancorp in the 2nd quarter valued at about $12,098,000. Dimensional Fund Advisors LP increased its stake in shares of Hope Bancorp by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider’s stock worth $82,298,000 after purchasing an additional 315,028 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Hope Bancorp in the 2nd quarter valued at about $252,703,000. Empowered Funds LLC bought a new stake in shares of Hope Bancorp in the 2nd quarter valued at about $6,794,000. Finally, Legal & General Group Plc bought a new stake in shares of Hope Bancorp in the 2nd quarter valued at about $3,925,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc. is the bank holding company for Bank of Hope, a commercial bank headquartered in Los Angeles. Bank of Hope was formed in 2016 through the merger of BBCN Bank and Wilshire Bank, bringing together institutions with roots in serving Korean-American communities. The bank provides deposit accounts, commercial and consumer lending, and other banking services to individuals and businesses. Its offerings include commercial real estate and business loans, small-business lending, treasury management, and online and mobile banking.