Hope Bancorp (NASDAQ:HOPE) Director Daisy Ha Sells 25,533 Shares

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 25,533 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $12.57, for a total transaction of $320,949.81. Following the completion of the sale, the director owned 31,020 shares of the company’s stock, valued at approximately $389,921.40. The trade was a 45.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hope Bancorp Trading Down 0.5%

Shares of NASDAQ HOPE traded down $0.06 during trading on Friday, hitting $12.51. 948,318 shares of the company traded hands, compared to its average volume of 961,086. The firm has a market capitalization of $1.60 billion, a P/E ratio of 27.20 and a beta of 0.87. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $11.51 and a 200-day moving average price of $10.92. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $12.79.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $145.76 million for the quarter, compared to analysts’ expectations of $142.90 million. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 earnings per share. On average, equities analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, February 6th. This represents a $0.56 annualized dividend and a yield of 4.5%. Hope Bancorp’s dividend payout ratio (DPR) is presently 121.74%.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Hope Bancorp in the 4th quarter valued at about $28,000. PNC Financial Services Group Inc. lifted its stake in shares of Hope Bancorp by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 960 shares in the last quarter. Versor Investments LP boosted its holdings in Hope Bancorp by 58.6% in the fourth quarter. Versor Investments LP now owns 62,500 shares of the financial services provider’s stock valued at $685,000 after purchasing an additional 23,100 shares during the last quarter. Bailard Inc. grew its stake in Hope Bancorp by 95.6% during the 4th quarter. Bailard Inc. now owns 68,452 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 33,464 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Hope Bancorp during the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on HOPE shares. Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a research report on Monday, December 29th. Zacks Research downgraded Hope Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday. DA Davidson reissued a “buy” rating and issued a $14.50 price objective on shares of Hope Bancorp in a research report on Wednesday, January 28th. Finally, Keefe, Bruyette & Woods upped their target price on Hope Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hope Bancorp has a consensus rating of “Hold” and an average target price of $13.75.

Hope Bancorp Company Profile

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.