Townsquare Capital LLC Makes New $174,000 Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Townsquare Capital LLC purchased a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,844 shares of the financial services provider’s stock, valued at approximately $174,000.

Other large investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its stake in 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 valued at $25,065,000 after purchasing an additional 1,632,384 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after buying an additional 53,587 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 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 valued at $21,488,000 after buying an additional 296,469 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Hope Bancorp by 3.7% during the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 1,744 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in Hope Bancorp by 17.7% in the 2nd quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider’s stock worth $3,763,000 after acquiring an additional 52,700 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday.

Insider Buying and Selling

In other news, Director Daisy Y. Ha sold 27,104 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the transaction, the director now owns 446,806 shares in the company, valued at $6,179,326.98. This represents a 5.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares of the company’s stock, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,224 shares of company stock valued at $1,737,873 over the last 90 days. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

HOPE opened at $13.45 on Friday. The company’s 50-day simple moving average is $13.09 and its two-hundred day simple moving average is $12.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $1.62 billion, a P/E ratio of 16.01 and a beta of 1.15. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.53.

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

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.16%. Hope Bancorp’s dividend payout ratio (DPR) is currently 66.67%.

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.