Inspire Investing LLC Boosts Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Inspire Investing LLC raised its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 4.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,603 shares of the financial services provider’s stock after purchasing an additional 1,413 shares during the quarter. Inspire Investing LLC’s holdings in Hope Bancorp were worth $350,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its holdings in Hope Bancorp by 117.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock valued at $1,826,000 after purchasing an additional 85,709 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Hope Bancorp in the first quarter worth about $915,000. Assenagon Asset Management S.A. raised its position in shares of 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 worth $25,065,000 after acquiring an additional 1,632,384 shares during the period. American Century Companies Inc. raised 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 worth $21,488,000 after acquiring an additional 296,469 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Hope Bancorp by 18.9% in the first quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock worth $2,325,000 after acquiring an additional 32,056 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the sale, the director now owns 109,991 shares in the company, valued at approximately $1,397,985.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares in the company, valued at approximately $321,804.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Malone sold 10,428 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The disclosure for this sale can be found here. Insiders sold a total of 25,831 shares of company stock worth $323,657 in the last 90 days. Insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Down 0.8 %

HOPE opened at $12.75 on Tuesday. Hope Bancorp, Inc. has a twelve month low of $8.15 and a twelve month high of $13.59. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $12.49 and a 200 day moving average price of $11.30. The company has a market cap of $1.54 billion, a PE ratio of 12.75 and a beta of 1.13.

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, hitting the consensus estimate of $0.22. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The firm had revenue of $116.90 million during the quarter, compared to the consensus estimate of $121.27 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue for the quarter was down 20.9% on a year-over-year basis. Sell-side analysts expect that Hope Bancorp, Inc. will post 0.89 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

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 dividend yield of 4.39%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Analyst Ratings Changes

HOPE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective 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. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th.

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.