Victory Capital Management Inc. Grows Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Victory Capital Management Inc. increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,609 shares of the financial services provider’s stock after buying an additional 25,654 shares during the period. Victory Capital Management Inc.’s holdings in Hope Bancorp were worth $2,093,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 232.7% during the 2nd 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. Principal Financial Group Inc. increased its position in Hope Bancorp by 9.0% during the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after purchasing an additional 53,587 shares during the last quarter. American Century Companies Inc. raised its stake in Hope Bancorp by 17.4% during 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 purchasing an additional 296,469 shares during the period. Denali Advisors LLC raised its stake in Hope Bancorp by 17.7% during the second quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider’s stock worth $3,763,000 after purchasing an additional 52,700 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Hope Bancorp in the 2nd quarter valued at $587,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the sale, the director now owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction that occurred on 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 directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 136,902 shares of company stock valued at $1,829,678 over the last ninety days. Insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

Hope Bancorp stock opened at $13.82 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.67 billion, a P/E ratio of 16.45 and a beta of 1.13. The firm has a fifty day moving average of $12.88 and a 200-day moving average of $11.94. Hope Bancorp, Inc. has a 52-week low of $9.45 and a 52-week high of $14.53.

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

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HOPE. StockNews.com lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th.

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.