Hope Bancorp (NASDAQ:HOPE) EVP Sells $11,410.00 in Stock

by · The Cerbat Gem

Hope Bancorp, Inc. (NASDAQ:HOPE – Get Free Report) EVP Jason Kim sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $11.41, for a total value of $11,410.00. Following the completion of the transaction, the executive vice president owned 79,666 shares of the company’s stock, valued at approximately $908,989.06. The trade was a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hope Bancorp Stock Down 0.5%

HOPE stock traded down $0.06 during midday trading on Friday, hitting $11.52. The stock had a trading volume of 960,893 shares, compared to its average volume of 998,269. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 29.54 and a beta of 0.89. The business has a 50-day moving average of $10.64 and a two-hundred day moving average of $10.67. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $13.45. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94.

Hope Bancorp (NASDAQ:HOPE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. The firm had revenue of $142.03 million for the quarter, compared to analysts’ expectations of $138.87 million. During the same period in the prior year, the business posted $0.21 EPS. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.9%. Hope Bancorp’s payout ratio is presently 143.59%.

Analyst Ratings Changes

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

Check Out Our Latest Research Report on Hope Bancorp

Hedge Funds Weigh In On Hope Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Hope Bancorp by 43.4% in the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock worth $64,934,000 after acquiring an additional 1,877,820 shares during the period. Millennium Management LLC lifted its position in Hope Bancorp by 366.8% during the third quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock valued at $14,439,000 after purchasing an additional 1,053,434 shares during the period. Rhino Investment Partners Inc boosted its holdings in Hope Bancorp by 29.8% in the third 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 during the last quarter. UBS Group AG grew its position in Hope Bancorp by 56.3% in the 3rd quarter. UBS Group AG now owns 1,136,902 shares of the financial services provider’s stock worth $12,244,000 after purchasing an additional 409,633 shares during the period. Finally, Nuveen LLC purchased a new stake in Hope Bancorp during the 1st quarter valued at $3,451,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

(Get Free Report)

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.

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