Hope Bancorp, Inc. (NASDAQ:HOPE) Sees Large Growth in Short Interest

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,290,000 shares, a growth of 8.5% from the December 31st total of 2,110,000 shares. Currently, 2.0% of the company's stock are sold short. Based on an average daily trading volume, of 724,900 shares, the days-to-cover ratio is currently 3.2 days.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Piper Sandler decreased their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Finally, DA Davidson cut their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.88.

Hope Bancorp Price Performance

HOPE stock traded up $0.12 during trading on Thursday, hitting $11.82. 436,743 shares of the company's stock traded hands, compared to its average volume of 755,552. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 14.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The business has a fifty day simple moving average of $12.42 and a 200 day simple moving average of $12.61. Hope Bancorp has a 52 week low of $9.80 and a 52 week high of $14.53.

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

Hope Bancorp Announces Dividend

The firm 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 is Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 4.74%. Hope Bancorp's dividend payout ratio is currently 68.29%.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares of the company's stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven Koh sold 96,620 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the transaction, the director now directly owns 3,167,023 shares of the company's stock, valued at $42,216,416.59. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,055 shares of company stock valued at $1,396,908. 5.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,553 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Hope Bancorp by 31.2% in the 4th 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 during the last quarter. nVerses Capital LLC acquired a new stake in shares of Hope Bancorp in the third quarter worth $48,000. Quantbot Technologies LP purchased a new position in shares of Hope Bancorp during the third quarter worth $58,000. Finally, KBC Group NV lifted its position in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 1,901 shares during the period. 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.