Steven Koh Sells 3,857 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) Director Steven Koh sold 3,857 shares of Hope Bancorp stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total value of $38,338.58. Following the sale, the director now directly owns 3,294,186 shares in the company, valued at $32,744,208.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $9.94 on Friday. The stock’s 50 day moving average is $10.53 and its 200 day moving average is $11.01. The company has a market capitalization of $1.20 billion, a P/E ratio of 9.94 and a beta of 1.15. Hope Bancorp, Inc. has a twelve month low of $8.12 and a twelve month high of $12.51. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.43.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). The company had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. Hope Bancorp’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts predict that Hope Bancorp, Inc. will post 0.95 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.14 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.63%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HOPE shares. Wedbush dropped their price target on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Finally, DA Davidson upgraded shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.83.

Institutional Investors Weigh In On Hope Bancorp

A number of institutional investors have recently made changes to their positions in HOPE. Boston Partners boosted its stake in Hope Bancorp by 4.3% during the 1st quarter. Boston Partners now owns 1,229,582 shares of the financial services provider’s stock valued at $13,994,000 after purchasing an additional 51,207 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Hope Bancorp by 28.2% during the first quarter. EMC Capital Management now owns 29,566 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 6,500 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Hope Bancorp by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 174,729 shares of the financial services provider’s stock valued at $2,012,000 after buying an additional 7,652 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Hope Bancorp by 6.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 108,683 shares of the financial services provider’s stock worth $1,248,000 after buying an additional 6,481 shares in the last quarter. Finally, SageView Advisory Group LLC purchased a new position in Hope Bancorp in the 1st quarter worth about $49,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

About Hope Bancorp

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.