Hope Bancorp Inc (NASDAQ:HOPE) Director Steven Koh Sells 10,000 Shares

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.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, July 26th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, July 25th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.12%. Hope Bancorp’s dividend payout ratio is 38.89%.

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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