Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger Sells 1,250 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,250 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total transaction of $15,625.00. Following the transaction, the executive vice president now directly owns 24,702 shares in the company, valued at approximately $308,775. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Thomas Stenger also recently made the following trade(s):

• On Friday, August 16th, Thomas Stenger sold 3,200 shares of Hope Bancorp stock. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00.

Hope Bancorp Stock Down 4.8 %

NASDAQ:HOPE opened at $13.52 on Friday. The firm’s 50-day moving average price is $12.61 and its 200-day moving average price is $11.70. The company has a market capitalization of $1.63 billion, a PE ratio of 16.10 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.95. Hope Bancorp, Inc. has a 1-year low of $9.02 and a 1-year high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last released 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). The business 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 prior year, the company earned $0.25 earnings per share. On average, equities analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Hedge Funds Weigh In On Hope Bancorp

A number of hedge funds have recently bought and sold shares of the company. Empowered Funds LLC boosted its stake in Hope Bancorp by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 410,454 shares of the financial services provider’s stock worth $5,155,000 after purchasing an additional 20,904 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Hope Bancorp by 18.2% in the 3rd quarter. Victory Capital Management Inc. now owns 166,609 shares of the financial services provider’s stock worth $2,093,000 after purchasing an additional 25,654 shares in the last quarter. Principal Financial Group Inc. boosted its stake in 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 worth $8,140,000 after purchasing an additional 53,587 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Hope Bancorp by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 2,534 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Hope Bancorp in the 3rd quarter worth about $48,000. 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.