Wittenberg Investment Management Inc. trimmed its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,342 shares of the financial services provider’s stock after selling 1,406 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Hope Bancorp were worth $212,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. First Interstate Bank increased its holdings in shares of Hope Bancorp by 254.3% during the 2nd quarter. First Interstate Bank now owns 6,395 shares of the financial services provider’s stock valued at $119,000 after purchasing an additional 4,590 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Hope Bancorp by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 122 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Hope Bancorp by 100.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 5,121 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Hope Bancorp by 0.5% during the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 55 shares in the last quarter. Finally, Connable Office Inc. purchased a new position in shares of Hope Bancorp during the 2nd quarter valued at approximately $196,000. 79.47% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the stock. FIG Partners lowered shares of Hope Bancorp from an “outperform” rating to a “market perform” rating in a report on Friday. Zacks Investment Research lowered shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Hope Bancorp in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $19.00 price target on shares of Hope Bancorp in a report on Thursday, September 7th. Finally, ValuEngine lowered shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Seven analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $20.00.

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Shares of Hope Bancorp, Inc. (HOPE) traded down 1.23% during midday trading on Friday, reaching $16.02. 1,647,965 shares of the company traded hands. The stock’s 50-day moving average is $16.51 and its 200-day moving average is $18.31. Hope Bancorp, Inc. has a 1-year low of $15.10 and a 1-year high of $22.99. The stock has a market capitalization of $2.17 billion, a P/E ratio of 14.63 and a beta of 1.39.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. The business had revenue of $132.94 million during the quarter, compared to analyst estimates of $136.80 million. Equities analysts predict that Hope Bancorp, Inc. will post $1.20 EPS for the current fiscal year.

In other news, Director Donald Byun sold 101,026 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jason K. Kim sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the transaction, the executive vice president now owns 70,729 shares of the company’s stock, valued at approximately $1,251,903.30. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by company insiders.

Hope Bancorp Profile

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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