Hope Bancorp, Inc. (NASDAQ:HOPE) Short Interest Update

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) was the recipient of a significant drop in short interest in the month of February. As of February 15th, there was short interest totalling 1,700,000 shares, a drop of 15.8% from the January 31st total of 2,020,000 shares. Based on an average daily trading volume, of 663,000 shares, the short-interest ratio is presently 2.6 days. Approximately 1.5% of the company's shares are short sold.

Insider Activity at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now owns 19,267 shares in the company, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.29% of the stock is currently owned by insiders.

Institutional Trading of Hope Bancorp

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its holdings in Hope Bancorp by 1.9% in the third quarter. State Street Corp now owns 6,152,656 shares of the financial services provider's stock worth $77,277,000 after purchasing an additional 112,824 shares during the period. Wellington Management Group LLP boosted its holdings in Hope Bancorp by 30.1% in 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 purchasing an additional 1,054,124 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Hope Bancorp by 3.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,963,643 shares of the financial services provider's stock worth $36,423,000 after purchasing an additional 103,554 shares during the period. Geode Capital Management LLC boosted its holdings in Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider's stock worth $35,703,000 after purchasing an additional 48,237 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Hope Bancorp by 12.5% in the fourth quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider's stock worth $31,375,000 after purchasing an additional 283,514 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

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Hope Bancorp Stock Up 0.9 %

Shares of HOPE stock traded up $0.09 during mid-day trading on Friday, reaching $10.57. 854,517 shares of the company were exchanged, compared to its average volume of 666,079. Hope Bancorp has a fifty-two week low of $9.80 and a fifty-two week high of $14.54. 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 company has a market capitalization of $1.28 billion, a P/E ratio of 12.89 and a beta of 1.15. The business's 50 day simple moving average is $11.56 and its 200 day simple moving average is $12.41.

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

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's payout ratio is currently 68.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HOPE shares. DA Davidson dropped their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. Finally, Piper Sandler dropped 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 note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Hope Bancorp currently has a consensus rating of "Hold" and an average target price of $12.88.

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.