Key Points
- Thomas Stenger (EVP) sold 1,867 shares of Hope Bancorp on Dec. 8 at $11.00 each (≈$20,537), cutting his stake by 8.41% to 20,322 shares valued at $223,542; he also sold 2,100 shares on Nov. 19 and 1,602 shares on Sept. 15, indicating multiple insider sales this year.
- The firm pays a quarterly dividend of $0.14 (annualized $0.56) for a 5.1% yield143.59%, suggesting payouts exceed current earnings.
- Hope Bancorp has a market cap of $1.42 billion and a P/E of 28.31, trades around $11 with a one-year range of $8.82–$13.67, and carries a consensus analyst rating of "Hold" with a $13.25 target.
Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Thomas Stenger sold 1,867 shares of the firm's stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $11.00, for a total transaction of $20,537.00. Following the transaction, the executive vice president owned 20,322 shares of the company's stock, valued at $223,542. This trade represents a 8.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Thomas Stenger also recently made the following trade(s):
- On Wednesday, November 19th, Thomas Stenger sold 2,100 shares of Hope Bancorp stock. The shares were sold at an average price of $10.00, for a total value of $21,000.00.
- 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 value of $17,477.82.
Hope Bancorp Trading Up 1.0%
Shares of HOPE opened at $11.04 on Tuesday. The company has a market capitalization of $1.42 billion, a P/E ratio of 28.31 and a beta of 0.89. The stock has a 50-day moving average price of $10.59 and a 200 day moving average price of $10.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. Hope Bancorp, Inc. has a one year low of $8.82 and a one year high of $13.67.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.The company had revenue of $142.03 million for the quarter, compared to analyst estimates of $138.87 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.
Hope Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Friday, November 7th. Hope Bancorp's dividend payout ratio (DPR) is presently 143.59%.
Analyst Upgrades and Downgrades
A number of research firms have commented on HOPE. DA Davidson set a $14.50 price objective on shares of Hope Bancorp in a research note on Wednesday, October 29th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hope Bancorp in a report on Monday, December 1st. Zacks Research upgraded Hope Bancorp from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Hope Bancorp has a consensus rating of "Hold" and a consensus target price of $13.25.
View Our Latest Report on HOPE
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in HOPE. GAMMA Investing LLC boosted its position in shares of Hope Bancorp by 29.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,211 shares during the last quarter. Amalgamated Bank increased its position in shares of Hope Bancorp by 3.5% during the 3rd quarter. Amalgamated Bank now owns 36,959 shares of the financial services provider's stock worth $398,000 after purchasing an additional 1,250 shares during the last quarter. Corient Private Wealth LLC raised its position in Hope Bancorp by 6.9% during the second quarter. Corient Private Wealth LLC now owns 20,809 shares of the financial services provider's stock worth $223,000 after acquiring an additional 1,340 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Hope Bancorp by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 74,284 shares of the financial services provider's stock worth $797,000 after purchasing an additional 1,448 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Hope Bancorp by 61.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider's stock worth $43,000 after acquiring an additional 1,503 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.
Hope Bancorp Company Profile
(
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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