Hope Bancorp Inc (NASDAQ:HOPE) Director Steven Koh sold 10,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $13.58, for a total value of $135,800.00. Following the sale, the director now directly owns 6,667 shares in the company, valued at $90,537.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Hope Bancorp stock traded up $0.38 on Friday, reaching $13.60. 321,800 shares of the company were exchanged, compared to its average volume of 673,673. The stock has a fifty day moving average price of $14.04 and a 200-day moving average price of $13.88. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.30 and a beta of 1.47. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.53. Hope Bancorp Inc has a fifty-two week low of $11.37 and a fifty-two week high of $17.92.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, July 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The company had revenue of $129.51 million for the quarter, compared to analyst estimates of $133.30 million. Hope Bancorp had a return on equity of 9.12% and a net margin of 23.98%. During the same period last year, the firm earned $0.36 earnings per share. On average, equities analysts anticipate that Hope Bancorp Inc will post 1.33 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its stake in Hope Bancorp by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 48,181 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 800 shares in the last quarter. Magnus Financial Group LLC raised its holdings in Hope Bancorp by 6.6% in the 2nd quarter. Magnus Financial Group LLC now owns 13,028 shares of the financial services provider’s stock valued at $180,000 after acquiring an additional 808 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Hope Bancorp by 7.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,427 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 860 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Hope Bancorp by 58.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,402 shares of the financial services provider’s stock worth $28,000 after buying an additional 887 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in shares of Hope Bancorp by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 186,657 shares of the financial services provider’s stock worth $2,572,000 after buying an additional 1,063 shares in the last quarter. Institutional investors and hedge funds own 86.75% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. ValuEngine raised Hope Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, May 3rd. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Hope Bancorp currently has an average rating of “Hold” and an average target price of $16.00.
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services 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.
Further Reading: Fundamental Analysis and Individual Investors
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