Angelee Harris Sells 3,000 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) Stock

Hope Bancorp, Inc. (NASDAQ:HOPE) EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now owns 19,795 shares in the company, valued at $280,297.20. This represents a 13.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Angelee Harris also recently made the following trade(s):

• On Wednesday, September 4th, Angelee Harris sold 1,500 shares of Hope Bancorp stock. The stock was sold at an average price of $12.48, for a total transaction of $18,720.00.

Hope Bancorp Price Performance

HOPE opened at $13.77 on Friday. The company has a 50-day moving average of $12.95 and a 200-day moving average of $11.99. The company has a market capitalization of $1.66 billion, a P/E ratio of 16.39 and a beta of 1.13. Hope Bancorp, Inc. has a 1-year low of $9.45 and a 1-year high of $14.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The business had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same period in the prior year, the company earned $0.25 EPS. Equities analysts expect that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Hope Bancorp by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after acquiring an additional 218,302 shares during the period. State Street Corp grew its position in Hope Bancorp by 1.9% in the third quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after acquiring an additional 112,824 shares in the last quarter. Wellington Management Group LLP grew its position in Hope Bancorp by 30.1% in the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after acquiring an additional 1,054,124 shares in the last quarter. Geode Capital Management LLC grew its position in Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after acquiring an additional 48,237 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Hope Bancorp by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock valued at $29,468,000 after buying an additional 33,689 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

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.