Thomas Stenger Sells 4,185 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Thomas Stenger also recently made the following trade(s):

• On Thursday, December 5th, Thomas Stenger sold 1,250 shares of Hope Bancorp stock. The stock was sold at an average price of $13.58, for a total value of $16,975.00.
• On Wednesday, November 6th, Thomas Stenger sold 1,250 shares of Hope Bancorp stock. The shares were sold at an average price of $12.50, for a total transaction of $15,625.00.

Hope Bancorp Trading Up 2.5 %

Shares of NASDAQ:HOPE traded up $0.28 during trading on Tuesday, reaching $11.70. 760,174 shares of the company were exchanged, compared to its average volume of 772,308. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market capitalization of $1.41 billion, a PE ratio of 14.27 and a beta of 1.15. The business's fifty day simple moving average is $12.50 and its 200-day simple moving average is $12.63. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.53.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.79%. Hope Bancorp's dividend payout ratio is presently 68.29%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB boosted its stake in Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 848 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Hope Bancorp in the third quarter worth about $48,000. Quantbot Technologies LP acquired a new stake in shares of Hope Bancorp during the third quarter worth about $58,000. KBC Group NV boosted its position in Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,901 shares during the last quarter. Finally, CWM LLC increased its holdings in Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider's stock worth $114,000 after buying an additional 1,238 shares during the period. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

HOPE has been the topic of several analyst reports. Piper Sandler cut their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. DA Davidson reduced their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $12.88.

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.