PDT Partners LLC Sells 45,238 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

PDT Partners LLC cut its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 51.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,492 shares of the financial services provider’s stock after selling 45,238 shares during the quarter. PDT Partners LLC’s holdings in Hope Bancorp were worth $534,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HOPE. nVerses Capital LLC acquired a new stake in Hope Bancorp in the 3rd quarter valued at about $48,000. Quantbot Technologies LP bought a new stake in shares of Hope Bancorp during the third quarter valued at approximately $58,000. Fifth Third Bancorp increased its holdings in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 3,163 shares in the last quarter. CWM LLC raised its position in Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,238 shares during the last quarter. Finally, Choreo LLC acquired a new position in Hope Bancorp during the 2nd quarter worth $108,000. 84.00% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the transaction, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Angelee Harris sold 3,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the sale, the executive vice president now owns 19,795 shares of the company’s stock, valued at approximately $280,297.20. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,474 shares of company stock worth $1,739,618. Insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Up 0.6 %

Shares of NASDAQ:HOPE opened at $13.70 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 16.31 and a beta of 1.13. The company has a 50 day moving average of $12.98 and a 200-day moving average of $12.04. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same period in the prior year, the firm posted $0.25 EPS. On average, sell-side analysts forecast that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.09%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Analysts Set New Price Targets

Separately, StockNews.com cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st.

Hope Bancorp 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.