Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,730,473 shares of the financial services provider’s stock after purchasing an additional 115,826 shares during the quarter. Vanguard Group Inc. owned 0.11% of Hope Bancorp worth $165,864,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Hope Bancorp in the 4th quarter valued at $2,977,000. Rafferty Asset Management LLC boosted its position in Hope Bancorp by 36.7% in the 4th quarter. Rafferty Asset Management LLC now owns 180,128 shares of the financial services provider’s stock valued at $2,176,000 after buying an additional 48,323 shares during the period. Hsbc Holdings PLC grew its stake in shares of Hope Bancorp by 455.8% in the fourth quarter. Hsbc Holdings PLC now owns 220,046 shares of the financial services provider’s stock worth $2,683,000 after acquiring an additional 180,458 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Hope Bancorp during the fourth quarter worth $1,117,000. Finally, Trexquant Investment LP raised its stake in shares of Hope Bancorp by 69.1% in the fourth quarter. Trexquant Investment LP now owns 136,100 shares of the financial services provider’s stock valued at $1,644,000 after acquiring an additional 55,597 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wedbush lowered their target price on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Finally, DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective on the stock in a report 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.83.

Insider Activity at Hope Bancorp

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

Hope Bancorp Trading Down 1.9 %

NASDAQ HOPE opened at $10.51 on Thursday. Hope Bancorp, Inc. has a 12 month low of $8.14 and a 12 month high of $12.51. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.51 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $10.44 and its 200 day moving average price is $10.97.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data 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). The firm had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. On average, sell-side analysts expect that Hope Bancorp, Inc. will post 0.95 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

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

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.