Thomas Stenger Sells 2,000 Shares of Hope Bancorp (NASDAQ:HOPE) Stock

Key Points

• Thomas Stenger, EVP of Hope Bancorp, sold 2,000 shares at an average price of $10.01, reducing his holdings by 7.17% to 25,891 shares.
• Hope Bancorp's stock price decreased by 0.5%, trading at $10.88 with a market cap of $1.39 billion.
• The company recently announced a quarterly dividend of $0.14 per share, resulting in a dividend yield of 5.1%; however, the payout ratio stands at 160.00%.

Hope Bancorp, Inc. (NASDAQ:HOPE - Get Free Report) EVP Thomas Stenger sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $10.01, for a total value of $20,020.00. Following the sale, the executive vice president owned 25,891 shares of the company's stock, valued at approximately $259,168.91. This represents a 7.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 15th, Thomas Stenger sold 1,602 shares of Hope Bancorp stock. The shares were sold at an average price of $10.91, for a total value of $17,477.82.

Hope Bancorp Stock Down 0.5%

Shares of NASDAQ HOPE traded down $0.06 during midday trading on Monday, hitting $10.88. 504,532 shares of the stock traded hands, compared to its average volume of 589,123. The company has a market cap of $1.39 billion, a PE ratio of 31.09 and a beta of 0.96. Hope Bancorp, Inc. has a one year low of $8.82 and a one year high of $14.53. The business has a 50 day moving average price of $10.78 and a two-hundred day moving average price of $10.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94.

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

Hope Bancorp Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in Hope Bancorp by 3.3% in the second quarter. State Street Corp now owns 6,494,266 shares of the financial services provider's stock worth $69,683,000 after purchasing an additional 209,442 shares during the last quarter. Wellington Management Group LLP boosted 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 purchasing an additional 1,877,820 shares during the last quarter. American Century Companies Inc. boosted its position in Hope Bancorp by 9.4% in the second quarter. American Century Companies Inc. now owns 3,006,877 shares of the financial services provider's stock worth $32,264,000 after purchasing an additional 257,791 shares during the last quarter. Geode Capital Management LLC boosted its position in Hope Bancorp by 2.4% in the second quarter. Geode Capital Management LLC now owns 2,986,576 shares of the financial services provider's stock worth $32,050,000 after purchasing an additional 68,620 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Hope Bancorp by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,739,463 shares of the financial services provider's stock valued at $18,664,000 after buying an additional 48,394 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut Hope Bancorp from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 26th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Hope Bancorp presently has a consensus 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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