Public Sector Pension Investment Board Has $2.85 Million Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Public Sector Pension Investment Board increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 265,341 shares of the financial services provider’s stock after buying an additional 19,113 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Hope Bancorp worth $2,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HOPE. SageView Advisory Group LLC bought a new stake in shares of Hope Bancorp during the first quarter valued at approximately $49,000. Fifth Third Bancorp grew its position in Hope Bancorp by 149.5% in the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 3,163 shares during the period. CWM LLC increased its stake in Hope Bancorp by 39.1% during the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 2,513 shares in the last quarter. Choreo LLC acquired a new position in Hope Bancorp during the second quarter worth $108,000. Finally, AE Wealth Management LLC bought a new position in shares of Hope Bancorp in the second quarter valued at $112,000. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HOPE. 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 raised their target price on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a report on Tuesday, July 30th.

Hope Bancorp Stock Down 0.1 %

Hope Bancorp stock opened at $12.40 on Friday. Hope Bancorp, Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $13.59. 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’s 50-day simple moving average is $12.47 and its 200 day simple moving average is $11.34. The stock has a market cap of $1.50 billion, a PE ratio of 12.40 and a beta of 1.13.

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

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a $0.14 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.56 dividend on an annualized basis and a yield of 4.52%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Insider Activity

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