Hope Bancorp, Inc. (NASDAQ:HOPE) Director Sells $1,287,944.60 in Stock

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) Director Steven Koh sold 96,620 shares of the company's stock in a transaction dated 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 sale, the director now owns 3,167,023 shares of the company's stock, valued at $42,216,416.59. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hope Bancorp Price Performance

Hope Bancorp stock traded up $0.32 during midday trading on Friday, reaching $13.82. The company's stock had a trading volume of 606,452 shares, compared to its average volume of 727,130. The stock has a market cap of $1.67 billion, a PE ratio of 16.18 and a beta of 1.13. 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 business has a 50-day moving average price of $12.85 and a 200-day moving average price of $11.90.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The firm had revenue of $246.92 million for the quarter, compared to the consensus estimate 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 firm earned $0.25 EPS. On average, sell-side analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.05%. Hope Bancorp's dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

Several equities research analysts have commented on HOPE shares. StockNews.com downgraded shares of Hope Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday. Keefe, Bruyette & Woods raised their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 30th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in Hope Bancorp in the 3rd quarter valued at about $48,000. Fifth Third Bancorp boosted its stake in Hope Bancorp by 149.5% during the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider's stock valued at $57,000 after buying an additional 3,163 shares during the period. Quantbot Technologies LP purchased a new position in Hope Bancorp during the third quarter worth about $58,000. Choreo LLC purchased a new stake in shares of Hope Bancorp in the 2nd quarter valued at about $108,000. Finally, AE Wealth Management LLC purchased a new position in shares of Hope Bancorp during the second quarter worth about $112,000. 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.

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