Key Points
- Hope Bancorp EVP Thomas Stenger sold 1,500 shares on June 8 at an average price of $12.68, totaling $19,020. After the sale, he still held 26,128 shares, representing a 5.43% reduction in his position.
- The company recently beat earnings expectations, reporting quarterly EPS of $0.23 versus the $0.22 consensus, though revenue came in below estimates at $133.82 million. Revenue still rose 21% year over year.
- Hope Bancorp pays a quarterly dividend of $0.14 per share, equal to an annualized yield of 4.4%. Analysts currently have an average rating of “Hold” with an average price target of $14.50.
Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Thomas Stenger sold 1,500 shares of the firm's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $12.68, for a total transaction of $19,020.00. Following the completion of the transaction, the executive vice president directly owned 26,128 shares in the company, valued at approximately $331,303.04. The trade was a 5.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Hope Bancorp Price Performance
Shares of NASDAQ HOPE opened at $12.78 on Wednesday. Hope Bancorp, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $13.09. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 24.58 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.96 and a current ratio of 0.96. The firm's 50-day simple moving average is $12.27 and its 200 day simple moving average is $11.71.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced 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. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The business had revenue of $133.82 million for the quarter, compared to analysts' expectations of $145.30 million. During the same quarter last year, the firm earned $0.17 EPS. The firm's revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, research analysts anticipate that Hope Bancorp, Inc. will post 1.13 earnings per share for the current fiscal year.
Hope Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 annualized dividend and a yield of 4.4%. Hope Bancorp's dividend payout ratio (DPR) is presently 107.69%.
Institutional Investors Weigh In On Hope Bancorp
A number of hedge funds have recently modified their holdings of the stock. Alpine Woods Capital Investors LLC bought a new stake in shares of Hope Bancorp in the 1st quarter worth approximately $201,000. Bank of America Corp DE raised its holdings in Hope Bancorp by 16.9% during the 1st quarter. Bank of America Corp DE now owns 989,030 shares of the financial services provider's stock valued at $11,047,000 after acquiring an additional 142,807 shares during the period. Amundi raised its holdings in Hope Bancorp by 33.1% during the 1st quarter. Amundi now owns 19,113 shares of the financial services provider's stock valued at $213,000 after acquiring an additional 4,748 shares during the period. Royal Bank of Canada raised its holdings in Hope Bancorp by 51.4% during the 1st quarter. Royal Bank of Canada now owns 11,457 shares of the financial services provider's stock valued at $128,000 after acquiring an additional 3,890 shares during the period. Finally, Rhino Investment Partners Inc raised its holdings in Hope Bancorp by 9.9% during the 1st quarter. Rhino Investment Partners Inc now owns 2,595,281 shares of the financial services provider's stock valued at $28,989,000 after acquiring an additional 232,783 shares during the period. Institutional investors own 84.00% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on HOPE shares. Zacks Research raised shares of Hope Bancorp from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. Brean Capital raised shares of Hope Bancorp from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 1st. Keefe, Bruyette & Woods lifted their target price on shares of Hope Bancorp from $13.00 to $14.00 and gave the stock a "market perform" rating in a research report on Monday, April 6th. Weiss Ratings raised shares of Hope Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Finally, DA Davidson lifted their target price on shares of Hope Bancorp from $14.50 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Hope Bancorp currently has an average rating of "Hold" and an average target price of $14.50.
View Our Latest Stock Analysis on HOPE
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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