Key Points
- Director Daisy Ha sold 12,000 shares of Hope Bancorp at an average price of $12.53, totaling about $150,360. After the sale, she still held 373,115 shares, a 3.12% reduction in her stake.
- Hope Bancorp shares were down 0.9% to $12.41, while the stock has traded between a 12-month low of $9.44 and high of $13.02. The company has a market cap of $1.59 billion and a dividend yield of 4.5% based on its quarterly payout of $0.14 per share.
- The bank recently beat earnings expectations with Q1 EPS of $0.23 versus $0.22 expected, though revenue came in below estimates at $126.69 million. Analysts currently view the stock as a Hold on average, with a consensus target price of $14.50.
Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) Director Daisy Ha sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total transaction of $150,360.00. Following the transaction, the director owned 373,115 shares in the company, valued at approximately $4,675,130.95. This trade represents a 3.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hope Bancorp Trading Down 0.9%
NASDAQ:HOPE opened at $12.41 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. Hope Bancorp, Inc. has a 12 month low of $9.44 and a 12 month high of $13.02. The company has a market cap of $1.59 billion, a PE ratio of 23.87 and a beta of 0.84. The company has a 50 day simple moving average of $11.69 and a two-hundred day simple moving average of $11.40.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.01. The firm had revenue of $126.69 million for the quarter, compared to analysts' expectations of $145.30 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The company's revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Research analysts forecast that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.
Hope Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, May 8th. Hope Bancorp's dividend payout ratio is 107.69%.
Analyst Ratings Changes
Several research analysts have issued reports on HOPE shares. Weiss Ratings raised Hope Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Brean Capital raised shares of Hope Bancorp from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 1st. DA Davidson increased their price objective on shares of Hope Bancorp from $14.50 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Zacks Research raised shares of Hope Bancorp from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Hope Bancorp from $13.00 to $14.00 and gave the company a "market perform" rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hope Bancorp presently has an average rating of "Hold" and an average target price of $14.50.
Check Out Our Latest Stock Report on Hope Bancorp
Hedge Funds Weigh In On Hope Bancorp
A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in Hope Bancorp by 2.7% during the third quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider's stock valued at $122,089,000 after purchasing an additional 303,019 shares during the period. Dimensional Fund Advisors LP increased its position in Hope Bancorp by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider's stock worth $82,298,000 after buying an additional 315,028 shares in the last quarter. State Street Corp raised its stake in shares of Hope Bancorp by 3.3% in the second quarter. State Street Corp now owns 6,494,266 shares of the financial services provider's stock worth $69,683,000 after buying an additional 209,442 shares during the period. American Century Companies Inc. lifted its position in shares of Hope Bancorp by 6.3% during the 3rd quarter. American Century Companies Inc. now owns 3,195,059 shares of the financial services provider's stock valued at $34,411,000 after buying an additional 188,182 shares in the last quarter. Finally, HoldCo Asset Management LP purchased a new position in shares of Hope Bancorp during the 4th quarter valued at about $32,838,000. 84.00% of the stock is owned by institutional investors.
Hope Bancorp Company Profile
(
Get Free Report)
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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