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

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

Hope Bancorp Stock Performance

Shares of HOPE traded down $0.85 during midday trading on Thursday, reaching $13.50. The stock had a trading volume of 1,089,145 shares, compared to its average volume of 731,040. The firm has a 50 day simple moving average of $12.60 and a 200-day simple moving average 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. The firm has a market cap of $1.63 billion, a PE ratio of 17.08 and a beta of 1.13. Hope Bancorp, Inc. has a one year low of $9.02 and a one year high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, sell-side analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HOPE shares. Keefe, Bruyette & Woods increased their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th.

Institutional Trading of Hope Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Hope Bancorp by 117.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock worth $1,826,000 after purchasing an additional 85,709 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Hope Bancorp in the first quarter valued at approximately $915,000. Assenagon Asset Management S.A. boosted its position 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 valued at $25,065,000 after acquiring an additional 1,632,384 shares during the period. American Century Companies Inc. lifted its position in 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 valued at $21,488,000 after purchasing an additional 296,469 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Hope Bancorp by 18.9% during the first quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock valued at $2,325,000 after purchasing an additional 32,056 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.