Hope Bancorp, Inc. (NASDAQ:HOPE) CFO Alex Ko sold 40,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $18.92, for a total transaction of $756,800.00. Following the completion of the sale, the chief financial officer now owns 10,088 shares in the company, valued at $190,864.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Hope Bancorp, Inc. (NASDAQ HOPE) opened at 18.45 on Wednesday. Hope Bancorp, Inc. has a 12 month low of $15.10 and a 12 month high of $22.99. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 16.85 and a beta of 1.41. The company has a 50 day moving average of $17.50 and a 200 day moving average of $17.81.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $139.51 million during the quarter, compared to the consensus estimate of $137.93 million. Hope Bancorp had a return on equity of 8.74% and a net margin of 26.16%. During the same period in the prior year, the company posted $0.22 earnings per share. On average, equities analysts predict that Hope Bancorp, Inc. will post $1.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Tuesday, October 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, October 30th. Hope Bancorp’s dividend payout ratio (DPR) is 43.33%.
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A number of hedge funds and other institutional investors have recently modified their holdings of HOPE. Russell Investments Group Ltd. lifted its stake in Hope Bancorp by 512.8% in the first quarter. Russell Investments Group Ltd. now owns 29,956 shares of the financial services provider’s stock valued at $574,000 after buying an additional 25,068 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in Hope Bancorp by 97.6% in the first quarter. OppenheimerFunds Inc. now owns 19,529 shares of the financial services provider’s stock valued at $374,000 after buying an additional 9,644 shares during the last quarter. Vanguard Group Inc. lifted its stake in Hope Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock valued at $227,477,000 after buying an additional 608,014 shares during the last quarter. Geode Capital Management LLC lifted its stake in Hope Bancorp by 8.1% in the first quarter. Geode Capital Management LLC now owns 1,049,364 shares of the financial services provider’s stock valued at $20,116,000 after buying an additional 78,894 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Hope Bancorp in the first quarter valued at approximately $261,000. Institutional investors own 78.54% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $18.50 price objective on shares of Hope Bancorp in a research report on Thursday, October 26th. ValuEngine raised shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. DA Davidson reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Hope Bancorp in a research report on Monday, September 18th. Finally, FIG Partners lowered shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $20.00 to $17.00 in a research report on Friday, September 15th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.58.
Hope Bancorp Company Profile
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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