Angelee Harris Sells 1,500 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 1,500 shares of Hope Bancorp stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $12.48, for a total value of $18,720.00. Following the completion of the transaction, the executive vice president now owns 23,331 shares in the company, valued at approximately $291,170.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hope Bancorp Price Performance

Shares of HOPE opened at $12.21 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.47 billion, a PE ratio of 12.21 and a beta of 1.13. Hope Bancorp, Inc. has a 12-month low of $8.15 and a 12-month high of $13.59. The business has a 50-day simple moving average of $12.12 and a two-hundred day simple moving average of $11.19.

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

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.59%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s payout ratio is currently 56.00%.

Institutional Trading of Hope Bancorp

Several institutional investors have recently modified their holdings of the business. SageView Advisory Group LLC acquired a new position in Hope Bancorp during the 1st quarter worth about $49,000. Fifth Third Bancorp raised its position in shares of Hope Bancorp by 149.5% during the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 3,163 shares during the last quarter. CWM LLC lifted its stake in shares of Hope Bancorp by 39.1% in the first 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 during the period. Choreo LLC bought a new stake in Hope Bancorp in the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC acquired a new stake in Hope Bancorp during the 2nd quarter valued at approximately $112,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

HOPE has been the topic of a number of research analyst reports. 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 raised their target price on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

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.