Hope Bancorp Inc (NASDAQ:HOPE) EVP Jason K. Kim Sells 2,750 Shares
Hope Bancorp Inc (NASDAQ:HOPE) EVP Jason K. Kim sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the sale, the executive vice president now owns 70,729 shares of the company’s stock, valued at $1,251,903.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hope Bancorp Inc (HOPE) traded up 0.45% during mid-day trading on Friday, hitting $17.72. The stock had a trading volume of 410,356 shares. Hope Bancorp Inc has a one year low of $15.00 and a one year high of $22.99. The firm’s 50-day moving average price is $18.47 and its 200 day moving average price is $19.40. The company has a market cap of $2.40 billion, a PE ratio of 16.18 and a beta of 1.39.
Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $132.94 million for the quarter, compared to analysts’ expectations of $136.80 million. Hope Bancorp had a return on equity of 7.78% and a net margin of 27.33%. On average, equities research analysts anticipate that Hope Bancorp Inc will post $1.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, July 27th. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.93%. Hope Bancorp’s dividend payout ratio is currently 47.71%.
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A number of analysts recently issued reports on the company. FIG Partners downgraded Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Wednesday, July 12th. Piper Jaffray Companies lowered their price target on Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, May 30th. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of Hope Bancorp in a research report on Tuesday, June 27th. Finally, BidaskClub upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $20.75.
Institutional investors have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. boosted its position in Hope Bancorp by 8.8% in the first quarter. Hennessy Advisors Inc. now owns 185,000 shares of the financial services provider’s stock worth $3,546,000 after buying an additional 15,000 shares in the last quarter. BlackRock Inc. boosted its position in Hope Bancorp by 49,191.5% in the first quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock worth $302,299,000 after buying an additional 15,737,358 shares in the last quarter. Victory Capital Management Inc. boosted its position in Hope Bancorp by 45.7% in the first quarter. Victory Capital Management Inc. now owns 2,108,798 shares of the financial services provider’s stock worth $40,426,000 after buying an additional 661,045 shares in the last quarter. Legato Capital Management LLC boosted its position in Hope Bancorp by 1,817.0% in the first quarter. Legato Capital Management LLC now owns 71,312 shares of the financial services provider’s stock worth $3,720,000 after buying an additional 67,592 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Hope Bancorp by 38.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,633,153 shares of the financial services provider’s stock worth $31,308,000 after buying an additional 451,183 shares in the last quarter. Institutional investors and hedge funds own 78.24% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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