Thomas Stenger Sells 4,185 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Thomas Stenger also recently made the following trade(s):

• On Thursday, December 5th, Thomas Stenger sold 1,250 shares of Hope Bancorp stock. The shares were sold at an average price of $13.58, for a total transaction of $16,975.00.
• On Wednesday, November 6th, Thomas Stenger sold 1,250 shares of Hope Bancorp stock. The stock was sold at an average price of $12.50, for a total transaction of $15,625.00.

Hope Bancorp Trading Down 0.9 %

NASDAQ:HOPE opened at $11.66 on Friday. The company has a market cap of $1.41 billion, a PE ratio of 14.22 and a beta of 1.16. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The company has a 50 day simple moving average of $12.56 and a two-hundred day simple moving average of $12.64. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Research analysts forecast that Hope Bancorp, Inc. will post 1.14 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Thursday, February 6th. Hope Bancorp’s payout ratio is currently 68.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. DA Davidson decreased their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday. Finally, Piper Sandler reduced their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Hope Bancorp presently has a consensus rating of “Hold” and a consensus target price of $12.88.

Hedge Funds Weigh In On Hope Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. increased its holdings in Hope Bancorp by 10.9% during the second quarter. Sei Investments Co. now owns 210,562 shares of the financial services provider’s stock valued at $2,262,000 after buying an additional 20,641 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Hope Bancorp by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider’s stock worth $645,000 after purchasing an additional 1,597 shares in the last quarter. SG Americas Securities LLC bought a new position in Hope Bancorp in the 3rd quarter worth $508,000. CWM LLC lifted its position in Hope Bancorp by 15.7% during the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,238 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in Hope Bancorp during the third quarter valued at about $48,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.