Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris Sells 3,000 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 3,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the sale, the executive vice president now directly owns 19,795 shares in the company, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Angelee Harris also recently made the following trade(s):

• On Wednesday, September 4th, Angelee Harris sold 1,500 shares of Hope Bancorp stock. The shares were sold at an average price of $12.48, for a total transaction of $18,720.00.

Hope Bancorp Stock Performance

Hope Bancorp stock remained flat at $13.80 during midday trading on Wednesday. 111,669 shares of the company were exchanged, compared to its average volume of 723,099. Hope Bancorp, Inc. has a twelve month low of $9.45 and a twelve month high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 16.55 and a beta of 1.13. The firm has a 50 day simple moving average of $12.93 and a two-hundred day simple moving average of $11.98.

Hope Bancorp (NASDAQ:HOPE) last released 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 return on equity of 5.52% and a net margin of 9.81%. The firm had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same period in the previous year, the company posted $0.25 EPS. On average, sell-side analysts anticipate that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders 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 dividend yield of 4.06%. Hope Bancorp’s payout ratio is currently 66.67%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HOPE shares. StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Hope Bancorp in the third quarter valued at approximately $48,000. Fifth Third Bancorp raised its stake in Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 3,163 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Hope Bancorp in the third quarter valued at approximately $58,000. Choreo LLC purchased a new stake in Hope Bancorp in the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC purchased a new stake in Hope Bancorp in the second quarter valued at approximately $112,000. 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.