Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Y. Ha Sells 27,104 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.83, for a total value of $374,848.32. Following the sale, the director now owns 446,806 shares in the company, valued at $6,179,326.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hope Bancorp Price Performance

NASDAQ:HOPE traded down $0.85 during midday trading on Thursday, hitting $13.50. 1,089,145 shares of the stock were exchanged, compared to its average volume of 731,040. Hope Bancorp, Inc. has a one year low of $9.02 and a one year high of $14.53. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 17.08 and a beta of 1.13. The business has a 50-day moving average price of $12.60 and a two-hundred day moving average price of $11.69. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 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 company had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Thursday, November 7th. Hope Bancorp’s payout ratio is presently 66.67%.

Institutional Investors Weigh In On Hope Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in Hope Bancorp by 232.7% during the second 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 last quarter. Jupiter Asset Management Ltd. lifted 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 purchasing an additional 470,394 shares in the last quarter. American Century Companies Inc. lifted 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 purchasing an additional 296,469 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 buying an additional 218,302 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Hope Bancorp by 82.2% in the second quarter. Thrivent Financial for Lutherans now owns 389,706 shares of the financial services provider’s stock valued at $4,186,000 after buying an additional 175,788 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HOPE shares. StockNews.com cut Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

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.