UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,598 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 220,280 shares of the financial services provider’s stock after selling 21,598 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of Hope Bancorp worth $2,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOPE. Louisiana State Employees Retirement System raised its stake in shares of Hope Bancorp by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 1,200 shares in the last quarter. CWM LLC increased its holdings in Hope Bancorp by 15.7% during the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,238 shares during the last quarter. Inspire Investing LLC raised its position in Hope Bancorp by 4.5% during the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock worth $350,000 after acquiring an additional 1,413 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in Hope Bancorp by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock valued at $912,000 after acquiring an additional 1,484 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Hope Bancorp by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 1,597 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the transaction, the director now directly owns 3,167,023 shares of the company’s stock, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angelee Harris sold 3,000 shares of the 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 directly owns 19,795 shares of the company’s stock, valued at $280,297.20. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,224 shares of company stock worth $1,737,873 over the last 90 days. Insiders own 5.29% of the company’s stock.

Hope Bancorp Trading Up 0.4 %

Shares of HOPE stock opened at $13.33 on Friday. The stock has a market cap of $1.61 billion, a P/E ratio of 15.87 and a beta of 1.15. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $13.18 and a 200 day simple moving average of $12.22.

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 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 in the previous year, the company posted $0.25 earnings per share. On average, research analysts predict that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.20%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Hope Bancorp 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.