Hope Bancorp, Inc. (HOPE) EVP Sells $66,959.25 in Stock
Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Jason K. Kim sold 3,669 shares of Hope Bancorp stock in a transaction on Monday, October 30th. The shares were sold at an average price of $18.25, for a total transaction of $66,959.25. Following the completion of the sale, the executive vice president now owns 67,060 shares of the company’s stock, valued at approximately $1,223,845. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Hope Bancorp, Inc. (HOPE) traded up 1.10% during mid-day trading on Tuesday, hitting $18.45. 452,207 shares of the stock traded hands. The company has a 50-day moving average of $17.43 and a 200 day moving average of $17.81. Hope Bancorp, Inc. has a 1-year low of $15.10 and a 1-year high of $22.99. The firm has a market capitalization of $2.50 billion, a P/E ratio of 16.85 and a beta of 1.41.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The business had revenue of $139.51 million during the quarter, compared to analyst estimates of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts anticipate that Hope Bancorp, Inc. will post $1.21 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.82%. The ex-dividend date is Monday, October 30th. Hope Bancorp’s dividend payout ratio is currently 43.33%.
Several research firms have recently weighed in on HOPE. FIG Partners lowered shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, July 12th. ValuEngine lowered shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price objective on shares of Hope Bancorp in a research note on Thursday, September 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $21.00 price objective on shares of Hope Bancorp in a research note on Monday, September 18th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.58.
A number of institutional investors have recently made changes to their positions in the business. Bridge City Capital LLC lifted its position in Hope Bancorp by 8.7% during the third quarter. Bridge City Capital LLC now owns 80,626 shares of the financial services provider’s stock valued at $1,428,000 after buying an additional 6,443 shares during the period. Crossmark Global Holdings Inc. purchased a new position in Hope Bancorp during the third quarter valued at $420,000. Aperio Group LLC lifted its position in Hope Bancorp by 6.0% during the third quarter. Aperio Group LLC now owns 68,244 shares of the financial services provider’s stock valued at $1,209,000 after buying an additional 3,873 shares during the period. Phocas Financial Corp. purchased a new position in Hope Bancorp during the second quarter valued at $10,205,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in Hope Bancorp by 138.7% during the second quarter. Dynamic Technology Lab Private Ltd now owns 52,245 shares of the financial services provider’s stock valued at $974,000 after buying an additional 30,359 shares during the period. 78.54% of the stock is owned by institutional investors and hedge funds.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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