Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Jason K. Kim sold 5,740 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $18.32, for a total transaction of $105,156.80. Following the transaction, the executive vice president now owns 52,709 shares in the company, valued at approximately $965,628.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Hope Bancorp, Inc. (HOPE) opened at $17.63 on Friday. The stock has a market cap of $2,372.57, a P/E ratio of 14.35, a PEG ratio of 1.46 and a beta of 1.40. Hope Bancorp, Inc. has a 1 year low of $17.14 and a 1 year high of $17.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million for the quarter, compared to the consensus estimate of $137.93 million. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. During the same quarter in the previous year, the company earned $0.22 EPS. equities research analysts forecast that Hope Bancorp, Inc. will post 1.2 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Tuesday, October 31st were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.95%. Hope Bancorp’s dividend payout ratio is currently 43.33%.
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Several large investors have recently added to or reduced their stakes in HOPE. BlackRock Inc. increased its stake in Hope Bancorp by 49,191.5% during the 1st quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock valued at $302,299,000 after purchasing an additional 15,737,358 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Hope Bancorp by 295.1% in the 2nd quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock worth $72,381,000 after acquiring an additional 2,898,811 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in shares of Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock worth $151,931,000 after acquiring an additional 960,796 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Hope Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock worth $227,477,000 after acquiring an additional 608,014 shares in the last quarter. Finally, Phocas Financial Corp. bought a new stake in shares of Hope Bancorp in the 2nd quarter worth $10,205,000. Institutional investors own 77.06% of the company’s stock.
HOPE has been the topic of several recent analyst reports. FIG Partners downgraded shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a report on Wednesday, July 26th. ValuEngine downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price objective on shares of Hope Bancorp in a report on Thursday, September 7th. Zacks Investment Research downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Hope Bancorp in a research report on Thursday, November 2nd. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.58.
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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