Hope Bancorp Inc (NASDAQ:HOPE) EVP David Lee Song sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total value of $88,750.00. Following the completion of the transaction, the executive vice president now owns 4,023 shares of the company’s stock, valued at $71,408.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ:HOPE opened at $17.39 on Friday. The company has a market cap of $2.26 billion, a P/E ratio of 14.25, a PEG ratio of 1.18 and a beta of 1.35. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.59. Hope Bancorp Inc has a 1-year low of $16.74 and a 1-year high of $19.86.
Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). The firm had revenue of $138.09 million for the quarter, compared to analyst estimates of $139.60 million. Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. During the same period in the previous year, the business posted $0.30 earnings per share. equities research analysts forecast that Hope Bancorp Inc will post 1.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Friday, July 27th were issued a dividend of $0.14 per share. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 3.22%. The ex-dividend date was Thursday, July 26th. Hope Bancorp’s dividend payout ratio (DPR) is presently 45.90%.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. ValuEngine upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Wedbush reiterated a “neutral” rating and set a $18.00 target price (down from $19.00) on shares of Hope Bancorp in a research note on Monday, July 16th. Finally, DA Davidson downgraded Hope Bancorp from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research note on Wednesday, May 30th. Eight investment analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of $19.42.
Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Hope Bancorp by 0.9% in the 1st quarter. Rhumbline Advisers now owns 340,372 shares of the financial services provider’s stock valued at $6,191,000 after acquiring an additional 3,124 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in Hope Bancorp by 1.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 209,274 shares of the financial services provider’s stock valued at $3,732,000 after acquiring an additional 3,216 shares in the last quarter. Flinton Capital Management LLC raised its holdings in Hope Bancorp by 14.2% in the 2nd quarter. Flinton Capital Management LLC now owns 27,098 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 3,366 shares in the last quarter. Foundry Partners LLC raised its holdings in Hope Bancorp by 15.8% in the 2nd quarter. Foundry Partners LLC now owns 25,710 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 3,500 shares in the last quarter. Finally, First Midwest Bank Trust Division raised its holdings in Hope Bancorp by 13.2% in the 2nd quarter. First Midwest Bank Trust Division now owns 31,034 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 3,617 shares in the last quarter. 90.06% of the stock is owned by institutional investors and hedge funds.
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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