O Shaughnessy Asset Management LLC Sells 23,332 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

O Shaughnessy Asset Management LLC decreased its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 15.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 124,897 shares of the financial services provider’s stock after selling 23,332 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Hope Bancorp were worth $1,535,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HOPE. Jane Street Group LLC grew its holdings in Hope Bancorp by 66.8% during the third quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock valued at $2,147,000 after purchasing an additional 68,460 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Hope Bancorp by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock worth $11,218,000 after buying an additional 95,570 shares during the period. Assenagon Asset Management S.A. grew its stake in Hope Bancorp by 47.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after buying an additional 337,599 shares during the last quarter. Barclays PLC raised its holdings in Hope Bancorp by 109.9% in the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after acquiring an additional 132,677 shares during the period. Finally, Geode Capital Management LLC lifted its position in Hope Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after acquiring an additional 48,237 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Stock Down 2.9 %

Shares of HOPE opened at $9.36 on Friday. Hope Bancorp, Inc. has a 52 week low of $9.04 and a 52 week high of $14.54. The firm has a market capitalization of $1.13 billion, a P/E ratio of 11.41 and a beta of 1.15. The company has a 50-day simple moving average of $10.90 and a 200-day simple moving average of $12.12. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. On average, equities research analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 5.98%. Hope Bancorp’s dividend payout ratio (DPR) is currently 68.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. DA Davidson lowered their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler lowered their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $12.88.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.29% of the stock is currently owned by insiders.

About Hope Bancorp

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.