Key Points
- Director Daisy Ha sold 25,533 shares of Hope Bancorp on Feb. 5 at an average price of $12.57 for about $320,950, cutting her stake by 45.15% to 31,020 shares (SEC filing).
- Quarterly results beat expectations: Hope Bancorp reported $0.27 EPS vs. $0.26 expected and revenue of $145.8M, up 23.6% year‑over‑year.
- High dividend yield but elevated payout: the company declared a $0.14 quarterly dividend (annualized $0.56) for a 4.5% yield, while the payout ratio is 121.74%, signaling the dividend may be less sustainable.
Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) Director Daisy Ha sold 25,533 shares of Hope Bancorp stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $12.57, for a total transaction of $320,949.81. Following the completion of the transaction, the director owned 31,020 shares of the company's stock, valued at $389,921.40. The trade was a 45.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Hope Bancorp Stock Performance
NASDAQ HOPE opened at $12.51 on Friday. The firm has a market cap of $1.60 billion, a P/E ratio of 27.20 and a beta of 0.87. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The company's 50 day moving average is $11.51 and its 200-day moving average is $10.92. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $12.79.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $145.76 million during the quarter, compared to analyst estimates of $142.90 million. Hope Bancorp had a net margin of 5.81% and a return on equity of 5.09%. Hope Bancorp's revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. Sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.
Hope Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, February 6th. Hope Bancorp's payout ratio is presently 121.74%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Hope Bancorp during the fourth quarter worth about $28,000. PNC Financial Services Group Inc. increased its position in shares of Hope Bancorp by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 960 shares during the last quarter. Versor Investments LP raised its holdings in shares of Hope Bancorp by 58.6% during the 4th quarter. Versor Investments LP now owns 62,500 shares of the financial services provider's stock valued at $685,000 after buying an additional 23,100 shares in the last quarter. Bailard Inc. lifted its position in Hope Bancorp by 95.6% in the 4th quarter. Bailard Inc. now owns 68,452 shares of the financial services provider's stock worth $750,000 after buying an additional 33,464 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Hope Bancorp in the fourth quarter worth approximately $29,000. Institutional investors own 84.00% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. DA Davidson reaffirmed a "buy" rating and set a $14.50 target price on shares of Hope Bancorp in a report on Wednesday, January 28th. Zacks Research downgraded shares of Hope Bancorp from a "hold" rating to a "strong sell" rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods upped their price target on shares of Hope Bancorp from $12.00 to $13.00 and gave the stock a "market perform" rating in a report on Wednesday, January 28th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Hope Bancorp in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $13.75.
Get Our Latest Research Report on Hope Bancorp
About Hope Bancorp
(
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Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company's principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.
In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.
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