Hope Bancorp (NASDAQ:HOPE) Sees Strong Trading Volume – What’s Next?

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) saw unusually-strong trading volume on Wednesday . Approximately 972,400 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 715,488 shares.The stock last traded at $12.32 and had previously closed at $12.18.

Analysts Set New Price Targets

A number of analysts have weighed in on HOPE shares. StockNews.com lowered Hope Bancorp from a “hold” rating to a “sell” rating in a report on Sunday. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research note on Tuesday, July 30th.

Hope Bancorp Trading Up 1.0 %

The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $12.36 and its 200 day moving average is $11.41. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.18 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $116.90 million for the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The business’s revenue was down 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. Research analysts predict that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s payout ratio is 56.00%.

Insider Transactions at Hope Bancorp

In other news, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now owns 109,991 shares of the company’s stock, valued at $1,397,985.61. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Malone sold 10,428 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the transaction, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,831 shares of company stock valued at $323,657 over the last 90 days. 5.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SageView Advisory Group LLC purchased a new stake in shares of Hope Bancorp during the 1st quarter worth $49,000. Fifth Third Bancorp lifted its position in shares of Hope Bancorp by 149.5% during the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 3,163 shares during the last quarter. CWM LLC lifted its position in shares of Hope Bancorp by 39.1% during the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 2,513 shares during the last quarter. Choreo LLC purchased a new stake in shares of Hope Bancorp during the 2nd quarter worth $108,000. Finally, AE Wealth Management LLC purchased a new stake in shares of Hope Bancorp during the 2nd quarter worth $112,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.