Insider Selling: Hope Bancorp (NASDAQ:HOPE) EVP Sells $20,020.00 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $10.01, for a total transaction of $20,020.00. Following the sale, the executive vice president owned 25,891 shares in the company, valued at $259,168.91. This represents a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Thomas Stenger also recently made the following trade(s):

• On Monday, September 15th, Thomas Stenger sold 1,602 shares of Hope Bancorp stock. The shares were sold at an average price of $10.91, for a total transaction of $17,477.82.

Hope Bancorp Stock Up 0.8%

Shares of NASDAQ HOPE opened at $10.84 on Thursday. The firm’s 50-day moving average price is $10.75 and its 200-day moving average price is $10.43. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 30.97 and a beta of 0.97. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.43). The business had revenue of $94.58 million for the quarter, compared to analysts’ expectations of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp’s dividend payout ratio is 160.00%.

Institutional Trading of Hope Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in Hope Bancorp by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 699,108 shares of the financial services provider’s stock valued at $7,320,000 after acquiring an additional 24,465 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Hope Bancorp during the 1st quarter valued at $105,000. Teacher Retirement System of Texas bought a new stake in Hope Bancorp during the 1st quarter valued at $186,000. Deutsche Bank AG grew its holdings in Hope Bancorp by 49.4% in the fourth quarter. Deutsche Bank AG now owns 101,614 shares of the financial services provider’s stock worth $1,249,000 after purchasing an additional 33,585 shares during the last quarter. Finally, KBC Group NV grew its holdings in Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,176 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $13.25.

About Hope Bancorp

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.