Hope Bancorp, Inc. (NASDAQ:HOPE) Position Lifted by Denali Advisors LLC

Denali Advisors LLC grew its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 297,700 shares of the financial services provider’s stock after purchasing an additional 14,200 shares during the quarter. Denali Advisors LLC’s holdings in Hope Bancorp were worth $3,427,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Hope Bancorp in the fourth quarter valued at about $9,960,000. AQR Capital Management LLC boosted its holdings in Hope Bancorp by 70.5% in the third quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after purchasing an additional 315,935 shares during the period. Wellington Management Group LLP bought a new stake in Hope Bancorp during the fourth quarter valued at $2,977,000. Hsbc Holdings PLC raised its holdings in shares of Hope Bancorp by 455.8% during the fourth quarter. Hsbc Holdings PLC now owns 220,046 shares of the financial services provider’s stock worth $2,683,000 after purchasing an additional 180,458 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Hope Bancorp by 28.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 170,985 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded down $0.20 during trading on Wednesday, reaching $10.51. The company had a trading volume of 307,748 shares, compared to its average volume of 686,781. Hope Bancorp, Inc. has a twelve month low of $8.14 and a twelve month high of $12.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $1.27 billion, a PE ratio of 10.66 and a beta of 1.15. The firm’s fifty day moving average is $10.45 and its 200 day moving average is $10.97.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The firm had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities analysts forecast that Hope Bancorp, Inc. will post 0.95 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.33%. The ex-dividend date was Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Insider Buying and Selling

In other Hope Bancorp news, Director Steven Koh sold 3,857 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total value of $38,338.58. Following the completion of the transaction, the director now directly owns 3,294,186 shares in the company, valued at $32,744,208.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Hope Bancorp news, EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total transaction of $44,856.00. Following the completion of the sale, the executive vice president now owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Koh sold 3,857 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total transaction of $38,338.58. Following the transaction, the director now owns 3,294,186 shares in the company, valued at $32,744,208.84. The disclosure for this sale can be found here. Insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a research report on Tuesday, April 30th. Finally, Wedbush cut their target price on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.83.

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.