Angelee Harris Sells 1,500 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $12.48, for a total transaction of $18,720.00. Following the completion of the transaction, the executive vice president now owns 23,331 shares of the company’s stock, valued at approximately $291,170.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock opened at $12.21 on Friday. Hope Bancorp, Inc. has a 52 week low of $8.15 and a 52 week high of $13.59. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.21 and a beta of 1.15. The firm has a fifty day moving average of $12.12 and a two-hundred day moving average of $11.19.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. The firm had revenue of $116.90 million for the quarter, compared to analysts’ expectations of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company’s revenue was down 20.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. As a group, equities research analysts predict that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Hope Bancorp by 6.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,844,319 shares of the financial services provider’s stock valued at $22,279,000 after buying an additional 115,543 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Hope Bancorp by 14.5% in the fourth quarter. BNP Paribas Financial Markets now owns 169,956 shares of the financial services provider’s stock worth $2,053,000 after acquiring an additional 21,553 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Hope Bancorp by 26.9% during the fourth quarter. QRG Capital Management Inc. now owns 18,934 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 4,017 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Hope Bancorp by 8.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Hope Bancorp in the 4th quarter valued at approximately $9,960,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HOPE. Keefe, Bruyette & Woods boosted their target price on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

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.