Hope Bancorp, Inc. (NASDAQ:HOPE) Director Steven Koh Sells 96,620 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Steven Koh sold 96,620 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the sale, the director now directly owns 3,167,023 shares in the company, valued at approximately $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 is available at this link.

Hope Bancorp Stock Performance

HOPE stock opened at $13.82 on Friday. The business has a 50 day moving average of $12.88 and a 200-day moving average of $11.92. The firm has a market cap of $1.67 billion, a PE ratio of 16.45 and a beta of 1.13. Hope Bancorp, Inc. has a 12-month low of $9.45 and a 12-month high of $14.53. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, sell-side analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Announces Dividend

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Hope Bancorp

A number of large investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in shares of 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 valued at $25,065,000 after buying an additional 1,632,384 shares during the period. Wellington Management Group LLP increased its holdings in Hope Bancorp by 30.1% during the 3rd 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 during the period. Jupiter Asset Management Ltd. lifted its stake in Hope Bancorp by 800.0% in the 2nd 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. boosted its holdings in Hope Bancorp by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after purchasing an additional 296,469 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Hope Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after purchasing an additional 218,302 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

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.