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

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $12.50, for a total value of $15,625.00. Following the transaction, the executive vice president now owns 24,702 shares of the company’s stock, valued at approximately $308,775. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 value of $39,680.00.

Hope Bancorp Trading Up 0.1 %

HOPE opened at $13.53 on Friday. The firm has a market cap of $1.63 billion, a P/E ratio of 16.11 and a beta of 1.13. Hope Bancorp, Inc. has a 12 month low of $9.02 and a 12 month high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $12.63 and a 200 day moving average of $11.72.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $246.92 million during the quarter, compared to the consensus estimate 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 previous year, the business earned $0.25 EPS. As a group, research analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

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

Institutional Trading of Hope Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Hope Bancorp during the third quarter valued at approximately $48,000. SageView Advisory Group LLC bought a new stake in shares of Hope Bancorp during the first quarter valued at approximately $49,000. Fifth Third Bancorp raised its stake in shares of Hope Bancorp by 149.5% during the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 3,163 shares in the last quarter. Choreo LLC bought a new stake in shares of Hope Bancorp during the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC bought a new stake in shares of Hope Bancorp during the second quarter valued at approximately $112,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HOPE shares. StockNews.com lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price target 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.

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.