Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) Director William J. Lewis sold 7,500 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $14.23, for a total transaction of $106,725.00. Following the completion of the transaction, the director now directly owns 17,601 shares in the company, valued at $250,462.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Hope Bancorp Stock Performance
Shares of HOPE stock traded down $0.32 during mid-day trading on Tuesday, hitting $14.11. The stock had a trading volume of 647,420 shares, compared to its average volume of 826,204. Hope Bancorp, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $17.68. The firm has a market cap of $1.69 billion, a PE ratio of 7.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.98 and a quick ratio of 0.97. The company’s 50-day simple moving average is $14.63 and its 200-day simple moving average is $14.93.
Hope Bancorp (NASDAQ:HOPE – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Hope Bancorp had a net margin of 34.35% and a return on equity of 10.72%. The firm had revenue of $154.28 million during the quarter, compared to analysts’ expectations of $150.08 million. During the same quarter last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. Sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.85 earnings per share for the current year.
Hope Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Friday, July 29th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, July 28th. Hope Bancorp’s dividend payout ratio (DPR) is 30.94%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the stock. Piper Sandler lowered their price objective on shares of Hope Bancorp to $16.00 in a research report on Monday, July 4th. Wedbush raised their price objective on shares of Hope Bancorp to $16.00 in a research report on Friday, July 22nd. DA Davidson downgraded shares of Hope Bancorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $20.00 to $16.00 in a research report on Wednesday, May 18th. Finally, StockNews.com upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 23rd.
Institutional Trading of Hope Bancorp
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Hope Bancorp by 424.4% during the fourth quarter. JPMorgan Chase & Co. now owns 9,570,238 shares of the financial services provider’s stock worth $140,777,000 after acquiring an additional 7,745,123 shares during the last quarter. Macquarie Group Ltd. raised its position in Hope Bancorp by 84.3% during the second quarter. Macquarie Group Ltd. now owns 3,620,495 shares of the financial services provider’s stock worth $50,108,000 after acquiring an additional 1,656,400 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Hope Bancorp by 89.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider’s stock worth $31,954,000 after acquiring an additional 1,092,042 shares during the last quarter. Victory Capital Management Inc. raised its position in Hope Bancorp by 75.7% during the first quarter. Victory Capital Management Inc. now owns 1,154,478 shares of the financial services provider’s stock worth $16,509,000 after acquiring an additional 497,269 shares during the last quarter. Finally, State Street Corp raised its position in Hope Bancorp by 7.2% during the first quarter. State Street Corp now owns 7,013,612 shares of the financial services provider’s stock worth $112,779,000 after acquiring an additional 469,232 shares during the last quarter. Institutional investors and hedge funds own 86.82% of the company’s stock.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.