Key Points
- Director sale: David Malone sold 20,820 shares on Dec. 11 at an average price of $11.50 (proceeds $239,430), reducing his stake by 23.8% to 66,658 shares.
- Dividend and payout: Hope Bancorp pays a quarterly $0.14 dividend (annualized $0.56) for a 4.9% yield, but the payout ratio is very high at ~143.6%.
- Recent results and analyst view: Q3 EPS was $0.25 (miss by $0.01) while revenue topped estimates at $142.03M, and the consensus analyst rating is "Hold" with an average price target of $13.25.
Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Jason Kim sold 1,000 shares of Hope Bancorp stock in a transaction on Friday, December 12th. The stock was sold at an average price of $11.41, for a total value of $11,410.00. Following the transaction, the executive vice president owned 79,666 shares in the company, valued at approximately $908,989.06. This represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Hope Bancorp Trading Down 0.5%
Shares of HOPE traded down $0.06 during mid-day trading on Friday, reaching $11.52. The stock had a trading volume of 960,893 shares, compared to its average volume of 998,269. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $13.45. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 29.54 and a beta of 0.89. The business's fifty day moving average is $10.64 and its 200 day moving average is $10.67. 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 (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. The firm had revenue of $142.03 million during the quarter, compared to analyst estimates of $138.87 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.
Hope Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, November 7th. Hope Bancorp's dividend payout ratio is presently 143.59%.
Hedge Funds Weigh In On Hope Bancorp
Several institutional investors have recently bought and sold shares of the company. CKW Financial Group acquired a new stake in shares of Hope Bancorp during the second quarter worth about $32,000. Geneos Wealth Management Inc. lifted its holdings in Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider's stock worth $36,000 after buying an additional 2,558 shares in the last quarter. Versant Capital Management Inc boosted its position in Hope Bancorp by 61.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider's stock valued at $43,000 after buying an additional 1,503 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider's stock worth $54,000 after acquiring an additional 3,071 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Hope Bancorp by 29.3% during the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider's stock worth $57,000 after acquiring an additional 1,211 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
HOPE has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Hope Bancorp in a research report on Monday. Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, November 8th. Zacks Research upgraded shares of Hope Bancorp from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 24th. Finally, DA Davidson set a $14.50 price target on shares of Hope Bancorp in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $13.25.
Check Out Our Latest Research Report on Hope Bancorp
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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