Insider Selling: Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Sells 3,000 Shares of Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares in the company, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Angelee Harris also recently made the following trade(s):

• On Wednesday, September 4th, Angelee Harris sold 1,500 shares of Hope Bancorp stock. The shares were sold at an average price of $12.48, for a total value of $18,720.00.

Hope Bancorp Trading Down 1.1 %

HOPE opened at $13.62 on Friday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 16.21 and a beta of 1.13. The stock’s 50 day moving average price is $12.96 and its 200-day moving average price is $12.01. Hope Bancorp, Inc. has a one year low of $9.66 and a one year high of $14.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96.

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

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.11%. Hope Bancorp’s dividend payout ratio is 66.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HOPE. Assenagon Asset Management S.A. grew its stake in Hope Bancorp by 232.7% in 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 purchasing an additional 1,632,384 shares in the last quarter. Wellington Management Group LLP grew its stake in Hope Bancorp by 30.1% in the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after purchasing an additional 1,054,124 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Hope Bancorp by 800.0% in the second quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 470,394 shares in the last quarter. American Century Companies Inc. grew its stake in Hope Bancorp by 17.4% in the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Hope Bancorp by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after purchasing an additional 218,302 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st.

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.