Hope Bancorp, Inc. (NASDAQ:HOPE) Stake Cut by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 6.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,448 shares of the financial services provider’s stock after selling 2,802 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Hope Bancorp were worth $483,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in Hope Bancorp during the fourth quarter valued at approximately $2,977,000. Vanguard Group Inc. raised its stake in shares of Hope Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock worth $165,864,000 after purchasing an additional 115,826 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Hope Bancorp by 46.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 15,929 shares of the financial services provider’s stock valued at $192,000 after buying an additional 5,034 shares in the last quarter. Denali Advisors LLC grew its position in Hope Bancorp by 5.0% in the first quarter. Denali Advisors LLC now owns 297,700 shares of the financial services provider’s stock worth $3,427,000 after acquiring an additional 14,200 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in 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 purchasing an additional 32,056 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Trading Up 0.5 %

Hope Bancorp stock opened at $12.53 on Tuesday. The business’s 50-day simple moving average is $12.57 and its 200-day simple moving average is $11.58. Hope Bancorp, Inc. has a 52 week low of $8.51 and a 52 week high of $13.59. The firm has a market capitalization of $1.51 billion, a PE ratio of 14.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $116.90 million during the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts forecast that Hope Bancorp, Inc. will post 0.87 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.47%. Hope Bancorp’s payout ratio is 62.92%.

Insider Buying and Selling

In other news, Director Jinho Doo sold 10,703 shares of the firm’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 completion of the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hope Bancorp news, 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 directly owns 21,538 shares in the company, valued at $267,071.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,831 shares of company stock valued at $323,657 over the last ninety days. 5.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on HOPE shares. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted 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 note on Tuesday, July 30th.

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.