Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris Sells 4,200 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total transaction of $44,856.00. Following the sale, the executive vice president now owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hope Bancorp Price Performance

HOPE stock opened at $10.70 on Wednesday. The firm has a 50 day moving average of $10.82 and a 200-day moving average of $10.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Hope Bancorp, Inc. has a 12 month low of $7.93 and a 12 month high of $12.51. The firm has a market capitalization of $1.29 billion, a P/E ratio of 10.70 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The firm had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. During the same quarter last year, the business posted $0.33 earnings per share. Hope Bancorp’s revenue was down 14.9% compared to the same quarter last year. As a group, sell-side analysts predict that Hope Bancorp, Inc. will post 0.95 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.23%. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Hedge Funds Weigh In On Hope Bancorp

Large investors have recently modified their holdings of the company. American Century Companies Inc. grew its stake in Hope Bancorp by 11.9% in the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock worth $10,223,000 after buying an additional 123,041 shares in the last quarter. AQR Capital Management LLC grew its stake in Hope Bancorp by 70.5% in the 3rd quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after buying an additional 315,935 shares in the last quarter. Boston Partners grew its stake in Hope Bancorp by 32.5% in the 3rd quarter. Boston Partners now owns 1,216,170 shares of the financial services provider’s stock worth $10,742,000 after buying an additional 298,349 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in Hope Bancorp in the 3rd quarter worth approximately $627,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Hope Bancorp by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,776 shares of the financial services provider’s stock worth $15,300,000 after buying an additional 145,721 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HOPE has been the subject of a number of research analyst reports. Wedbush decreased their price objective on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. DA Davidson upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.83.

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.