Insider Selling: Hope Bancorp (NASDAQ:HOPE) EVP Sells 1,602 Shares of Stock

Key Points

• Thomas Stenger, EVP of Hope Bancorp, sold 1,602 shares of stock on September 15th for approximately $17,478, reducing his ownership by 6.19% to 24,289 shares.
• Hope Bancorp's shares are down 0.5% trading at $10.88, with a market capitalization of $1.39 billion and a PE ratio of 31.09.
• The company's recent quarterly earnings report revealed a loss of ($0.22) per share, falling short of the consensus estimate of $0.21, with revenue of $94.58 million compared to expectations of $133.90 million.

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Thomas Stenger sold 1,602 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $10.91, for a total transaction of $17,477.82. Following the sale, the executive vice president directly owned 24,289 shares of the company's stock, valued at approximately $264,992.99. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, August 6th, Thomas Stenger sold 2,000 shares of Hope Bancorp stock. The stock was sold at an average price of $10.01, for a total transaction of $20,020.00.

Hope Bancorp Stock Down 0.5%

HOPE stock traded down $0.06 during mid-day trading on Monday, hitting $10.88. 504,532 shares of the company were exchanged, compared to its average volume of 589,123. The company has a market capitalization of $1.39 billion, a PE ratio of 31.09 and a beta of 0.96. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. Hope Bancorp, Inc. has a twelve month low of $8.82 and a twelve month high of $14.53. The firm has a fifty day simple moving average of $10.78 and a 200 day simple moving average of $10.42.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.43). The company had revenue of $94.58 million for the quarter, compared to analyst estimates of $133.90 million. Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.During the same period in the prior year, the business earned $0.22 earnings per share. On average, research analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp's dividend payout ratio (DPR) is currently 160.00%.

Institutional Trading of Hope Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in HOPE. CKW Financial Group bought a new stake in shares of Hope Bancorp during the 2nd quarter worth about $32,000. Geneos Wealth Management Inc. raised its holdings in shares of Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider's stock worth $36,000 after purchasing an additional 2,558 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider's stock worth $54,000 after acquiring an additional 3,071 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Hope Bancorp by 29.3% in the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider's stock worth $57,000 after acquiring an additional 1,211 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,176 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Hope Bancorp from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.25.

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.

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