Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) Director Daisy Ha sold 26,995 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the transaction, the director owned 346,120 shares of the company's stock, valued at approximately $4,928,748.80. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Hope Bancorp Stock Performance
NASDAQ HOPE opened at $14.36 on Wednesday. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.48. The company has a 50-day simple moving average of $13.30 and a 200 day simple moving average of $12.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.98. The company has a market capitalization of $1.84 billion, a PE ratio of 14.36 and a beta of 0.83.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The firm had revenue of $147.82 million for the quarter, compared to analysts' expectations of $146.50 million. During the same period in the previous year, the company earned ($0.22) earnings per share. On average, research analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current year.
Hope Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, August 6th. Hope Bancorp's payout ratio is 56.00%.
Analyst Ratings Changes
Several equities analysts have weighed in on HOPE shares. Keefe, Bruyette & Woods increased their price objective on Hope Bancorp from $14.00 to $15.00 and gave the company a "hold" rating in a report on Monday. Weiss Ratings upgraded Hope Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Finally, DA Davidson upped their price target on Hope Bancorp from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $15.50.
Check Out Our Latest Analysis on HOPE
Hedge Funds Weigh In On Hope Bancorp
Large investors have recently modified their holdings of the business. AlphaQuest LLC lifted its stake in shares of Hope Bancorp by 159.4% during the 4th quarter. AlphaQuest LLC now owns 189,175 shares of the financial services provider's stock valued at $2,073,000 after buying an additional 116,252 shares in the last quarter. UBS Group AG grew its stake in Hope Bancorp by 73.5% in the 4th quarter. UBS Group AG now owns 1,972,716 shares of the financial services provider's stock valued at $21,621,000 after buying an additional 835,814 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Hope Bancorp by 4.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider's stock valued at $82,298,000 after acquiring an additional 315,028 shares during the period. Fifth Third Bancorp raised its holdings in Hope Bancorp by 9,776.2% during the 1st quarter. Fifth Third Bancorp now owns 143,303 shares of the financial services provider's stock valued at $1,601,000 after acquiring an additional 141,852 shares during the period. Finally, Rhino Investment Partners Inc lifted its position in shares of Hope Bancorp by 9.9% during the first quarter. Rhino Investment Partners Inc now owns 2,595,281 shares of the financial services provider's stock worth $28,989,000 after acquiring an additional 232,783 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.
About Hope Bancorp
(
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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