Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 74.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,955 shares of the financial services provider’s stock after selling 421,332 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Hope Bancorp worth $1,514,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its position in shares of Hope Bancorp by 232.7% in the 2nd 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 stake in Hope Bancorp during the fourth quarter worth approximately $9,960,000. Wellington Management Group LLP bought a new position in Hope Bancorp during the 4th quarter valued at $2,977,000. Hsbc Holdings PLC boosted its stake 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 buying an additional 180,458 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Hope Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock worth $165,864,000 after buying an additional 115,826 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

HOPE has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Keefe, Bruyette & Woods increased their target price on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the sale, the executive vice president now directly owns 25,952 shares in the company, valued at $321,804.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jinho Doo sold 10,703 shares of the business’s 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 transaction, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the transaction, the executive vice president now directly owns 25,952 shares in the company, valued at $321,804.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $12.72 on Thursday. The company has a fifty day moving average price of $12.37 and a 200 day moving average price of $11.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. Hope Bancorp, Inc. has a one year low of $8.15 and a one year high of $13.59. The stock has a market cap of $1.53 billion, a P/E ratio of 12.72 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company had revenue of $116.90 million for the quarter, compared to analyst estimates of $121.27 million. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was down 20.9% compared to the same quarter last year. Analysts anticipate 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 given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 annualized dividend and a yield of 4.40%. Hope Bancorp’s dividend payout ratio (DPR) 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.