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 firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $13.58, for a total value of $135,800.00. Following the completion of the transaction, the director now owns 6,667 shares of the company’s stock, valued at approximately $90,537.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of HOPE traded up $0.38 during trading hours on Friday, reaching $13.60. 321,800 shares of the company traded hands, compared to its average volume of 673,673. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.75 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 1.30 and a beta of 1.47. Hope Bancorp Inc has a fifty-two week low of $11.37 and a fifty-two week high of $17.92. The stock has a fifty day simple moving average of $14.04 and a 200 day simple moving average of $13.88.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.34 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 net margin of 23.98% and a return on equity of 9.12%. During the same period in the previous year, the business earned $0.36 EPS. Research analysts predict that Hope Bancorp Inc will post 1.33 EPS for the current fiscal year.

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

HOPE has been the topic of a number of analyst reports. ValuEngine raised Hope Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, May 3rd. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, July 20th. One 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 price target of $16.00.

A number of large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Hope Bancorp in the 4th quarter worth about $22,668,000. Deutsche Bank AG raised its holdings in shares of Hope Bancorp by 11.5% in the 4th quarter. Deutsche Bank AG now owns 346,034 shares of the financial services provider’s stock worth $4,101,000 after purchasing an additional 35,693 shares during the period. Magnus Financial Group LLC purchased a new position in shares of Hope Bancorp in the 1st quarter worth about $160,000. Virginia Retirement Systems ET AL raised its holdings in shares of Hope Bancorp by 29.9% in the 1st quarter. Virginia Retirement Systems ET AL now owns 67,800 shares of the financial services provider’s stock worth $887,000 after purchasing an additional 15,600 shares during the period. Finally, 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 purchasing an additional 887 shares during the period. 86.75% of the stock is currently owned by hedge funds and other institutional investors.

About Hope Bancorp

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.

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