Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris Sells 4,200 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total transaction of $44,856.00. Following the completion of the sale, the executive vice president now directly owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Hope Bancorp Stock Performance

Shares of NASDAQ HOPE opened at $10.30 on Friday. Hope Bancorp, Inc. has a 12 month low of $7.93 and a 12 month high of $12.51. The company has a market cap of $1.24 billion, a P/E ratio of 10.30 and a beta of 1.15. The business’s 50 day moving average is $10.80 and its two-hundred day moving average is $10.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.43.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The company had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. During the same period last year, the firm posted $0.33 EPS. The company’s revenue was down 14.9% compared to the same quarter last year. On average, equities analysts expect that Hope Bancorp, Inc. will post 0.95 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date was Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Institutional Investors Weigh In On Hope Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. SageView Advisory Group LLC bought a new position in shares of Hope Bancorp during the 1st quarter worth approximately $49,000. CWM LLC boosted its holdings in shares of Hope Bancorp by 39.1% in the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 2,513 shares in the last quarter. Drive Wealth Management LLC bought a new stake in Hope Bancorp during the 1st quarter worth approximately $116,000. QRG Capital Management Inc. acquired a new stake in Hope Bancorp during the 3rd quarter valued at $132,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in Hope Bancorp by 8.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,033 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HOPE. Wedbush reduced their target price on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Hope Bancorp currently has an average rating of “Hold” and a consensus price target of $11.83.

Hope Bancorp Company Profile

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.