Key Points
- EVP Thomas Stenger sold 2,100 shares on Nov. 19 at $10.00 for $21,000, cutting his stake by 8.65% to 22,189 shares; he also sold 1,602 shares on Sept. 15 at $10.91.
- Hope Bancorp declared a quarterly dividend of $0.14 per share (ex-dividend Nov. 7, payable Nov. 21), annualized to $0.56 for a 5.5% yield
- Shares traded around $10.14 (12‑month range $8.82–$14.38) with a $1.3B market cap and P/E of 26.04; analysts have a consensus "Hold" rating and an average target of $13.25.
Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Thomas Stenger sold 2,100 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $10.00, for a total value of $21,000.00. Following the transaction, the executive vice president owned 22,189 shares in the company, valued at $221,890. This trade represents a 8.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Thomas Stenger also recently made the following trade(s):
- On Monday, September 15th, Thomas Stenger sold 1,602 shares of Hope Bancorp stock. The stock was sold at an average price of $10.91, for a total transaction of $17,477.82.
Hope Bancorp Price Performance
Hope Bancorp stock traded up $0.18 during midday trading on Thursday, reaching $10.14. The company had a trading volume of 114,755 shares, compared to its average volume of 876,493. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $14.38. The company has a market capitalization of $1.30 billion, a P/E ratio of 26.04 and a beta of 0.96. The firm's fifty day simple moving average is $10.64 and its 200-day simple moving average is $10.61.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $142.03 million for the quarter, compared to analyst estimates of $138.87 million. Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.During the same period last year, the firm earned $0.21 EPS. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.
Hope Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 5.5%. Hope Bancorp's payout ratio is presently 143.59%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC raised its holdings in Hope Bancorp by 318.8% during the first quarter. Voya Investment Management LLC now owns 420,501 shares of the financial services provider's stock worth $4,403,000 after purchasing an additional 320,091 shares during the last quarter. Strs Ohio purchased a new position in shares of Hope Bancorp in the first quarter valued at $670,000. Intech Investment Management LLC raised its stake in shares of Hope Bancorp by 31.5% during the 1st quarter. Intech Investment Management LLC now owns 178,490 shares of the financial services provider's stock worth $1,869,000 after buying an additional 42,710 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Hope Bancorp in the 1st quarter worth about $249,000. Finally, American Century Companies Inc. increased its holdings in Hope Bancorp by 7.7% during the 1st quarter. American Century Companies Inc. now owns 2,749,086 shares of the financial services provider's stock valued at $28,783,000 after acquiring an additional 196,172 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently commented on HOPE shares. Zacks Research raised shares of Hope Bancorp from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. DA Davidson set a $14.50 price objective on Hope Bancorp in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hope Bancorp in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $13.25.
Read Our Latest Analysis on Hope Bancorp
About Hope Bancorp
(
Get Free Report)
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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