Hope Bancorp, Inc. (NASDAQ:HOPE) Director Sells $1,287,944.60 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Steven Koh sold 96,620 shares of the firm’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 transaction of $1,287,944.60. Following the completion of the sale, the director now owns 3,167,023 shares of the company’s stock, valued at approximately $42,216,416.59. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hope Bancorp Price Performance

Shares of HOPE opened at $13.82 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average price is $12.88 and its 200-day moving average price is $11.94. Hope Bancorp, Inc. has a 1-year low of $9.45 and a 1-year high of $14.53. The firm 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 results on Monday, October 28th. The financial services provider reported $0.21 earnings per share 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 for the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

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

Hedge Funds Weigh In On Hope Bancorp

Institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in shares of Hope Bancorp by 232.7% in 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 acquiring an additional 1,632,384 shares during the period. Wellington Management Group LLP boosted its holdings in 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 valued at $57,192,000 after purchasing an additional 1,054,124 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in Hope Bancorp by 800.0% during 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 during the period. American Century Companies Inc. raised its stake in shares of Hope Bancorp by 17.4% during 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 buying an additional 296,469 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Hope Bancorp by 3.1% in 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 buying an additional 218,302 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.