Insider Selling: Hope Bancorp, Inc. (NASDAQ:HOPE) Director Sells 96,620 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Steven Koh sold 96,620 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the transaction, the director now owns 3,167,023 shares in the company, valued at $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hope Bancorp Stock Up 2.4 %

Hope Bancorp stock opened at $13.82 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50 day moving average price of $12.88 and a 200 day moving average price of $11.94. Hope Bancorp, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $14.53. The company has a market capitalization of $1.67 billion, a PE ratio of 16.45 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The firm had revenue of $246.92 million during the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter in the prior year, the firm posted $0.25 EPS. Research analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 4.05%. Hope Bancorp’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

HOPE has been the topic of a number of research analyst reports. StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in Hope Bancorp by 232.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after buying an additional 1,632,384 shares during the period. Wellington Management Group LLP grew its stake in shares of Hope Bancorp by 30.1% in the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after acquiring an additional 1,054,124 shares in the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Hope Bancorp by 800.0% during the second quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock worth $5,684,000 after acquiring an additional 470,394 shares during the period. American Century Companies Inc. increased its position in shares of Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after acquiring an additional 296,469 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Hope Bancorp by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after acquiring an additional 218,302 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.