Amalgamated Bank Sells 1,028 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Amalgamated Bank cut its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,556 shares of the financial services provider’s stock after selling 1,028 shares during the period. Amalgamated Bank’s holdings in Hope Bancorp were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted 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 valued at $25,065,000 after acquiring an additional 1,632,384 shares during the period. Jupiter Asset Management Ltd. raised its stake in Hope Bancorp by 800.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 470,394 shares in the last quarter. American Century Companies Inc. boosted its holdings in Hope Bancorp by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after purchasing an additional 296,469 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Hope Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after purchasing an additional 218,302 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Hope Bancorp by 82.2% during the second quarter. Thrivent Financial for Lutherans now owns 389,706 shares of the financial services provider’s stock worth $4,186,000 after purchasing an additional 175,788 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $13.51 on Friday. The firm has a 50 day moving average of $12.74 and a 200-day moving average of $11.83. Hope Bancorp, Inc. has a 12 month low of $9.45 and a 12 month high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $1.63 billion, a PE ratio of 16.08 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. The business had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, equities research analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.15%. The ex-dividend date is Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Insider Transactions at Hope Bancorp

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 stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares of the company’s stock, valued at $1,397,985.61. This represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the sale, the director now directly owns 446,806 shares in the company, valued at $6,179,326.98. The trade was a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,985 shares of company stock valued at $674,450. 5.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HOPE shares. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods upped their target price on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report 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.