Hope Bancorp, Inc. (NASDAQ:HOPE) Director Sells $132,539.88 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the transaction, the director now owns 109,991 shares of the company’s stock, valued at $1,397,985.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $12.53 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 12.53 and a beta of 1.15. The business has a 50-day simple moving average of $12.05 and a two-hundred day simple moving average of $11.17. Hope Bancorp, Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The firm had revenue of $116.90 million during the quarter, compared to analysts’ expectations of $121.27 million. During the same period in the previous year, the company earned $0.32 earnings per share. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. On average, analysts expect that Hope Bancorp, Inc. will post 0.89 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.47%. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on HOPE shares. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th.

Institutional Trading of Hope Bancorp

A number of hedge funds have recently bought and sold shares of the company. SageView Advisory Group LLC bought a new stake in shares of Hope Bancorp during the 1st quarter valued at about $49,000. Fifth Third Bancorp boosted its holdings in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after buying an additional 3,163 shares during the last quarter. CWM LLC grew its position in Hope Bancorp by 39.1% during the first quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock valued at $103,000 after buying an additional 2,513 shares during the period. Choreo LLC purchased a new stake in Hope Bancorp during the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC bought a new position in Hope Bancorp in the 2nd quarter worth $112,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.