Hope Bancorp (NASDAQ:HOPE) Director Sells $387,129.60 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 31,020 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $12.48, for a total transaction of $387,129.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hope Bancorp Stock Down 0.5%

NASDAQ HOPE opened at $12.51 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.94 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 27.20 and a beta of 0.87. The company has a 50 day moving average of $11.51 and a 200-day moving average of $10.93. Hope Bancorp, Inc. has a 1-year low of $8.82 and a 1-year high of $12.79.

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

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be given a $0.14 dividend. The ex-dividend date 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 presently 121.74%.

Institutional Trading of Hope Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC acquired a new position in shares of Hope Bancorp during the fourth quarter worth $28,000. PNC Financial Services Group Inc. grew its position in Hope Bancorp by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 960 shares during the last quarter. Versor Investments LP increased its holdings in Hope Bancorp by 58.6% in the 4th quarter. Versor Investments LP now owns 62,500 shares of the financial services provider’s stock worth $685,000 after purchasing an additional 23,100 shares in the last quarter. Bailard Inc. increased its holdings in Hope Bancorp by 95.6% in the 4th quarter. Bailard Inc. now owns 68,452 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 33,464 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Hope Bancorp in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOPE. Zacks Research downgraded shares of 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 stock a “market perform” rating in a research report on Wednesday, January 28th. DA Davidson reissued a “buy” rating and issued a $14.50 price objective on shares of Hope Bancorp in a research note on Wednesday, January 28th. Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.75.

About Hope Bancorp

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.