Hope Bancorp (NASDAQ:HOPE) Director Sells $320,949.81 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 25,533 shares of Hope Bancorp stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $12.57, for a total transaction of $320,949.81. Following the completion of the sale, the director owned 31,020 shares of the company’s stock, valued at $389,921.40. This trade represents a 45.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hope Bancorp Stock Performance

Shares of HOPE opened at $12.51 on Monday. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $12.79. The company’s fifty day moving average is $11.51 and its 200-day moving average is $10.93. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 27.20 and a beta of 0.87.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The company had revenue of $145.76 million during the quarter, compared to analysts’ expectations of $142.90 million. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Equities analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.5%. Hope Bancorp’s dividend payout ratio (DPR) is currently 121.74%.

Institutional Investors Weigh In On Hope Bancorp

Several large investors have recently made changes to their positions in HOPE. Global Retirement Partners LLC acquired a new position in Hope Bancorp in the 4th quarter worth $28,000. International Assets Investment Management LLC bought a new stake in Hope Bancorp during the fourth quarter worth $29,000. CKW Financial Group bought a new stake in shares of Hope Bancorp in the 2nd quarter valued at about $32,000. Geneos Wealth Management Inc. raised its stake in Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after buying an additional 2,558 shares during the period. Finally, Versant Capital Management Inc raised its stake in Hope Bancorp by 61.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 1,503 shares during the period. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. Zacks Research lowered Hope Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on shares of Hope Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a research note on Wednesday, January 28th. Finally, DA Davidson reiterated a “buy” rating and issued a $14.50 price target on shares of Hope Bancorp in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.75.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.