Hope Bancorp (NASDAQ:HOPE) Sees Large Volume Increase – What’s Next?

Hope Bancorp, Inc. (NASDAQ:HOPE) shares saw an uptick in trading volume on Wednesday . 972,400 shares traded hands during trading, an increase of 36% from the previous session’s volume of 715,488 shares.The stock last traded at $12.32 and had previously closed at $12.18.

Analysts Set New Price Targets

HOPE has been the topic of a number of analyst reports. StockNews.com lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Sunday, October 6th. Keefe, Bruyette & Woods increased their target price on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Hope Bancorp Stock Performance

The stock has a fifty day simple moving average of $12.34 and a two-hundred day simple moving average of $11.42. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 13.83 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The business had revenue of $116.90 million during the quarter, compared to analysts’ expectations of $121.27 million. During the same quarter last year, the firm posted $0.32 earnings per share. The firm’s revenue was down 20.9% on a year-over-year basis. Analysts forecast that Hope Bancorp, Inc. will post 0.87 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 4.37%. Hope Bancorp’s dividend payout ratio is currently 62.92%.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the sale, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas Stenger sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the transaction, the executive vice president now directly owns 25,952 shares in the company, valued at $321,804.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,831 shares of company stock worth $323,657 in the last quarter. Company insiders own 5.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. State Board of Administration of Florida Retirement System raised its holdings in shares of Hope Bancorp by 117.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock worth $1,826,000 after acquiring an additional 85,709 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Hope Bancorp in the first quarter worth approximately $915,000. Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after purchasing an additional 1,632,384 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Hope Bancorp by 17.4% in the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of Hope Bancorp by 18.9% during the first quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock valued at $2,325,000 after buying an additional 32,056 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Company Profile

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.