Insider Selling: Hope Bancorp, Inc. (NASDAQ:HOPE) Director Sells 96,620 Shares of Stock

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

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $13.82 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $12.88 and its two-hundred day moving average price is $11.93. The company 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.

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

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.14 dividend. 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 payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Hope Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of HOPE. Quantinno Capital Management LP lifted its position in Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 919 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Hope Bancorp by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC grew its holdings in Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,238 shares in the last quarter. Inspire Investing LLC increased its position in Hope Bancorp by 4.5% during the 2nd quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock worth $350,000 after buying an additional 1,413 shares during the period. Finally, SummerHaven Investment Management LLC increased its position in Hope Bancorp by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock worth $912,000 after buying an additional 1,484 shares during the period. 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.