Hope Bancorp (NASDAQ:HOPE) Sets New 52-Week Low - Should You Sell?

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.83 and last traded at $8.89, with a volume of 245622 shares. The stock had previously closed at $9.14.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. DA Davidson cut their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. Piper Sandler dropped their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Four equities research 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, Hope Bancorp has a consensus rating of "Hold" and a consensus price target of $12.88.

Hope Bancorp Trading Up 1.0 %

The company has a 50-day moving average price of $10.51 and a two-hundred day moving average price of $11.93. The stock has a market cap of $1.11 billion, a P/E ratio of 11.22 and a beta of 0.96. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 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 expect that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 6.09%. Hope Bancorp's payout ratio is 68.29%.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 19,267 shares of the company's stock, valued at $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC bought a new position in Hope Bancorp in the 3rd quarter worth about $267,000. Quantinno Capital Management LP grew its stake in Hope Bancorp by 8.5% in the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider's stock worth $147,000 after purchasing an additional 919 shares in the last quarter. State Street Corp increased its holdings in Hope Bancorp by 1.9% during the 3rd 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. Jane Street Group LLC increased its holdings in Hope Bancorp by 66.8% during the 3rd quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider's stock worth $2,147,000 after purchasing an additional 68,460 shares during the period. Finally, Barclays PLC raised its position in Hope Bancorp by 109.9% during the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock valued at $3,183,000 after purchasing an additional 132,677 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.