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 Hope Bancorp stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the sale, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hope Bancorp Stock Performance

NASDAQ HOPE traded up $0.32 on Friday, hitting $13.82. 606,452 shares of the company traded hands, compared to its average volume of 727,130. The business’s 50 day moving average price is $12.85 and its 200-day moving average price is $11.90. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. Hope Bancorp, Inc. has a 52-week low of $9.45 and a 52-week high of $14.53. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 16.18 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 earnings per share (EPS) 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 business had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter last year, the firm earned $0.25 EPS. Equities analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently declared 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 was Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Hope Bancorp from $12.00 to $14.00 and gave the company 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 note on Thursday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its stake in Hope Bancorp by 232.7% during the 2nd 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. Wellington Management Group LLP grew its holdings in Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after acquiring an additional 1,054,124 shares during the period. Jupiter Asset Management Ltd. raised its position in Hope Bancorp by 800.0% during the second quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock valued at $5,684,000 after acquiring an additional 470,394 shares in the last quarter. American Century Companies Inc. lifted 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 valued at $21,488,000 after acquiring an additional 296,469 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of 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 worth $78,605,000 after purchasing an additional 218,302 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.