Hope Bancorp (NASDAQ:HOPE) EVP Thomas Stenger Sells 1,602 Shares

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 business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $10.91, for a total transaction of $17,477.82. Following the transaction, the executive vice president owned 24,289 shares in the company, valued at approximately $264,992.99. This trade represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

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

Hope Bancorp Stock Performance

HOPE stock traded down $0.29 during midday trading on Friday, hitting $10.94. The company's stock had a trading volume of 1,981,877 shares, compared to its average volume of 590,603. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $14.53. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 31.26 and a beta of 0.97. The stock's 50-day moving average price is $10.73 and its 200 day moving average price is $10.43. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06.

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

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp's dividend payout ratio is currently 160.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HOPE. Wellington Management Group LLP grew its position in Hope Bancorp by 43.4% in the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider's stock worth $64,934,000 after acquiring an additional 1,877,820 shares in the last quarter. Nuveen LLC bought a new stake in Hope Bancorp in the 1st quarter worth approximately $3,451,000. Voya Investment Management LLC grew its position in Hope Bancorp by 318.8% during the first quarter. Voya Investment Management LLC now owns 420,501 shares of the financial services provider's stock valued at $4,403,000 after acquiring an additional 320,091 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Hope Bancorp by 54.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 877,835 shares of the financial services provider's stock worth $9,419,000 after acquiring an additional 308,646 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Hope Bancorp by 147.1% in the 1st quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider's stock worth $5,153,000 after acquiring an additional 292,994 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

About Hope Bancorp

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.