Jupiter Asset Management Ltd. Purchases 470,394 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Jupiter Asset Management Ltd. increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 800.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 529,195 shares of the financial services provider’s stock after buying an additional 470,394 shares during the quarter. Jupiter Asset Management Ltd. owned 0.44% of Hope Bancorp worth $5,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after purchasing an additional 1,632,384 shares in the last quarter. Norges Bank bought a new position in shares of Hope Bancorp in the 4th quarter valued at about $9,960,000. American Century Companies Inc. increased its position in shares of Hope Bancorp by 17.4% in the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after acquiring an additional 296,469 shares during the last quarter. Wellington Management Group LLP bought a new stake in Hope Bancorp during the fourth quarter worth about $2,977,000. Finally, Hsbc Holdings PLC boosted its position in Hope Bancorp by 455.8% during the fourth quarter. Hsbc Holdings PLC now owns 220,046 shares of the financial services provider’s stock valued at $2,683,000 after purchasing an additional 180,458 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $12.42 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 12.42 and a beta of 1.13. Hope Bancorp, Inc. has a 52 week low of $8.15 and a 52 week high of $13.59. The firm’s 50-day simple moving average is $12.28 and its 200 day simple moving average is $11.22.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $116.90 million during the quarter, compared to the consensus estimate of $121.27 million. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The firm’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. As a group, sell-side analysts predict that Hope Bancorp, Inc. will post 0.89 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th.

Insider Buying and Selling

In other Hope Bancorp news, Director Jinho Doo sold 10,703 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the sale, the director now directly owns 21,538 shares in the company, valued at $267,071.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jinho Doo sold 10,703 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the sale, the director now owns 21,538 shares of the company’s stock, valued at $267,071.20. The disclosure for this sale can be found here. Insiders sold 25,831 shares of company stock valued at $323,657 over the last quarter. 5.29% of the stock is owned by company insiders.

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.