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 company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $12.48, for a total transaction of $18,720.00. Following the completion of the sale, the executive vice president now directly owns 23,331 shares in the company, valued at $291,170.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $12.43 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The company has a 50 day moving average price of $12.09 and a 200-day moving average price of $11.18. Hope Bancorp, Inc. has a 1-year low of $8.15 and a 1-year high of $13.59. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 12.43 and a beta of 1.15.

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

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 dividend on an annualized basis and a yield of 4.51%. Hope Bancorp’s payout ratio is 56.00%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HOPE shares. Keefe, Bruyette & Woods boosted their target price 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. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

Hedge Funds Weigh In On Hope Bancorp

A number of hedge funds have recently bought and sold shares of HOPE. Vanguard Group Inc. raised its stake in shares of Hope Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock worth $165,864,000 after buying an additional 115,826 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hope Bancorp by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after acquiring an additional 218,302 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Hope Bancorp by 232.7% during the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after acquiring an additional 1,632,384 shares during the period. American Century Companies Inc. lifted its holdings in Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Hope Bancorp by 6.7% in the fourth 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 purchasing an additional 115,543 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

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.