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 stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the transaction, the executive vice president now owns 19,795 shares in the company, valued at $280,297.20. The trade was a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 transaction of $18,720.00.

Hope Bancorp Stock Performance

Hope Bancorp stock remained flat at $13.80 during trading hours on Wednesday. The company’s stock had a trading volume of 111,669 shares, compared to its average volume of 723,099. Hope Bancorp, Inc. has a fifty-two week low of $9.45 and a fifty-two week high of $14.53. The business’s 50 day moving average price is $12.93 and its 200-day moving average price is $11.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.67 billion, a P/E ratio of 16.55 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm 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 quarter in the prior year, the firm earned $0.25 earnings per share. On average, sell-side analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.14 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 4.06%. Hope Bancorp’s payout ratio is 66.67%.

Institutional Investors Weigh In On Hope Bancorp

Several hedge funds have recently bought and sold shares of HOPE. Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 218,302 shares in the last quarter. State Street Corp boosted its stake in Hope Bancorp by 1.9% in the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after purchasing an additional 112,824 shares in the last quarter. Wellington Management Group LLP grew its position in Hope Bancorp by 30.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock valued at $57,192,000 after purchasing an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after buying an additional 48,237 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Hope Bancorp by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock worth $29,468,000 after buying an additional 33,689 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on HOPE shares. StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price objective 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.

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.