Angelee Harris Sells 3,000 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 3,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares of the company’s stock, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Angelee Harris also recently made the following trade(s):

• On Wednesday, September 4th, Angelee Harris sold 1,500 shares of Hope Bancorp stock. The stock was sold at an average price of $12.48, for a total transaction of $18,720.00.

Hope Bancorp Trading Down 0.2 %

Shares of HOPE opened at $13.77 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a 50 day simple moving average of $12.95 and a 200-day simple moving average of $11.99. Hope Bancorp, Inc. has a 1-year low of $9.45 and a 1-year high of $14.53. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 16.39 and a beta of 1.13.

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

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.14 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.07%. Hope Bancorp’s payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st.

Institutional Trading of Hope Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Hope Bancorp by 232.7% in the 2nd 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 during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hope Bancorp by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after purchasing an additional 53,587 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Hope Bancorp by 17.4% in the 2nd 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 during the last quarter. Denali Advisors LLC boosted its holdings in shares of Hope Bancorp by 17.7% in the 2nd quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider’s stock valued at $3,763,000 after purchasing an additional 52,700 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Hope Bancorp in the 2nd quarter valued at $587,000. 84.00% of the stock is owned by hedge funds and other 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.