Hope Bancorp, Inc. (NASDAQ:HOPE) Director William J. Lewis Sells 7,500 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) Director William J. Lewis sold 7,500 shares of Hope Bancorp stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $14.23, for a total value of $106,725.00. Following the completion of the sale, the director now directly owns 17,601 shares in the company, valued at $250,462.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hope Bancorp Price Performance

HOPE stock opened at $14.11 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.98 and a quick ratio of 0.97. The business has a 50 day simple moving average of $14.63 and a 200-day simple moving average of $14.92. The firm has a market capitalization of $1.69 billion, a PE ratio of 7.80 and a beta of 1.24. Hope Bancorp, Inc. has a 1 year low of $13.00 and a 1 year high of $17.68.

Hope Bancorp (NASDAQ:HOPEGet Rating) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Hope Bancorp had a return on equity of 10.72% and a net margin of 34.35%. The business had revenue of $154.28 million during the quarter, compared to analyst estimates of $150.08 million. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Hope Bancorp, Inc. will post 1.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Thursday, July 28th. Hope Bancorp’s dividend payout ratio is presently 30.94%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HOPE. CWM LLC lifted its holdings in Hope Bancorp by 152.6% in the first quarter. CWM LLC now owns 2,950 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 1,782 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Hope Bancorp by 51.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after acquiring an additional 1,313 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Hope Bancorp during the first quarter worth $75,000. KBC Group NV acquired a new position in Hope Bancorp during the second quarter worth $132,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Hope Bancorp during the second quarter worth $142,000. 86.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wedbush lifted their target price on shares of Hope Bancorp to $16.00 in a research note on Friday, July 22nd. StockNews.com raised shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd. Piper Sandler cut their price objective on shares of Hope Bancorp to $16.00 in a report on Monday, July 4th. Finally, DA Davidson lowered Hope Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $16.00 in a research report on Wednesday, May 18th.

About Hope Bancorp

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Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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