Steven Koh Sells 96,620 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Steven Koh sold 96,620 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the transaction, the director now directly owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hope Bancorp Trading Up 2.4 %

HOPE opened at $13.82 on Friday. The firm’s fifty day moving average is $12.88 and its two-hundred day moving average is $11.93. The firm has a market cap of $1.67 billion, a PE ratio of 16.45 and a beta of 1.13. Hope Bancorp, Inc. has a twelve month low of $9.45 and a twelve month high of $14.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. During the same quarter in the prior year, the company earned $0.25 EPS. Equities research analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th. StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday.

Institutional Trading of Hope Bancorp

Large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its stake in 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 buying an additional 1,632,384 shares in the last quarter. Wellington Management Group LLP lifted its position in Hope Bancorp by 30.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock valued at $57,192,000 after acquiring an additional 1,054,124 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in Hope Bancorp by 800.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 470,394 shares during the period. American Century Companies Inc. increased its holdings in Hope Bancorp by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Hope Bancorp by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after purchasing an additional 218,302 shares during the period. 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.