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 stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hope Bancorp Stock Up 2.4 %

Shares of NASDAQ:HOPE opened at $13.82 on Friday. Hope Bancorp, Inc. has a 1 year low of $9.45 and a 1 year high of $14.53. 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 stock’s 50-day moving average is $12.88 and its 200 day moving average is $11.92. The company has a market cap of $1.67 billion, a PE ratio of 16.45 and a beta of 1.13.

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

Hope Bancorp Announces Dividend

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

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds have recently made changes to their positions in HOPE. Assenagon Asset Management S.A. raised its holdings in 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 purchasing an additional 1,632,384 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Hope Bancorp by 30.1% in 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 buying an additional 1,054,124 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of 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 acquiring an additional 470,394 shares in the last quarter. American Century Companies Inc. grew its holdings in Hope Bancorp by 17.4% in 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 during the period. Finally, Dimensional Fund Advisors LP increased its position in 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 buying an additional 218,302 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.