Daisy Ha Sells 26,995 Shares of Hope Bancorp (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Daisy Ha sold 26,995 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was 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. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hope Bancorp Trading Down 0.6%

HOPE stock opened at $14.27 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.48. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 14.27 and a beta of 0.83. The business’s 50-day moving average is $13.34 and its 200 day moving average is $12.40.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The company had revenue of $147.82 million during the quarter, compared to analyst estimates of $146.50 million. During the same period in the previous year, the business earned ($0.22) EPS. On average, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, August 6th. Hope Bancorp’s payout ratio is presently 56.00%.

Hedge Funds Weigh In On Hope Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its stake in Hope Bancorp by 62.7% during the second quarter. Versant Capital Management Inc now owns 7,848 shares of the financial services provider’s stock worth $107,000 after buying an additional 3,023 shares during the last quarter. Alpine Woods Capital Investors LLC acquired a new stake in shares of Hope Bancorp in the 1st quarter worth $201,000. Bank of America Corp DE raised its holdings in shares of Hope Bancorp by 16.9% during the 1st quarter. Bank of America Corp DE now owns 989,030 shares of the financial services provider’s stock worth $11,047,000 after acquiring an additional 142,807 shares during the period. Amundi raised its holdings in shares of Hope Bancorp by 33.1% during the 1st quarter. Amundi now owns 19,113 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 4,748 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Hope Bancorp by 51.4% during the 1st quarter. Royal Bank of Canada now owns 11,457 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 3,890 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HOPE. Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. DA Davidson increased their target price on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $15.50.

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.