Vanguard Group Inc. Has $149.54 Million Position in Hope Bancorp, Inc. $HOPE

Vanguard Group Inc. lowered its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,885,245 shares of the financial services provider’s stock after selling 99,751 shares during the quarter. Vanguard Group Inc. owned 0.11% of Hope Bancorp worth $149,544,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its position in Hope Bancorp by 294.0% in the first 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 during the period. Versant Capital Management Inc boosted its holdings in Hope Bancorp by 61.0% during the third quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,503 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Hope Bancorp by 157.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,071 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Hope Bancorp in the 3rd quarter valued at about $97,000. Finally, Tower Research Capital LLC TRC boosted its position in Hope Bancorp by 131.0% during the second quarter. Tower Research Capital LLC TRC now owns 10,319 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 5,852 shares during the period. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Trading Down 0.2%

Hope Bancorp stock opened at $11.40 on Wednesday. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $12.79. The business’s fifty day simple moving average is $11.74 and its two-hundred day simple moving average is $11.13. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 24.78 and a beta of 0.85.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a net margin of 5.81% and a return on equity of 5.09%. The firm had revenue of $145.76 million during the quarter, compared to the consensus estimate of $142.90 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, equities analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, February 6th. Hope Bancorp’s dividend payout ratio is 121.74%.

Wall Street Analyst Weigh In

HOPE has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Hope Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hope Bancorp in a research report on Monday, December 29th. Zacks Research lowered Hope Bancorp from a “hold” rating to a “strong sell” rating in a report on Monday, February 2nd. DA Davidson reissued a “buy” rating and set a $14.50 target price on shares of Hope Bancorp in a research report on Wednesday, January 28th. Finally, Wall Street Zen raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.75.

Insider Activity

In other Hope Bancorp news, Director Daisy Y. Ha sold 31,020 shares of Hope Bancorp stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $12.48, for a total transaction of $387,129.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David P. Malone sold 20,820 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.50, for a total value of $239,430.00. Following the completion of the sale, the director directly owned 66,658 shares in the company, valued at approximately $766,567. The trade was a 23.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,240 shares of company stock worth $990,996 over the last ninety days. 5.16% of the stock is currently owned by corporate insiders.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.