JPMorgan Chase & Co. Raises Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

JPMorgan Chase & Co. boosted its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 12.0% in the third quarter, Holdings Channel.com reports. The firm owned 893,172 shares of the financial services provider’s stock after acquiring an additional 95,570 shares during the period. JPMorgan Chase & Co.’s holdings in Hope Bancorp were worth $11,218,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Hope Bancorp in the 3rd quarter valued at approximately $48,000. Quantbot Technologies LP bought a new stake in shares of Hope Bancorp during the 3rd quarter worth $58,000. Choreo LLC purchased a new position in shares of Hope Bancorp in the second quarter worth approximately $108,000. AE Wealth Management LLC acquired a new stake in shares of Hope Bancorp during the second quarter valued at approximately $112,000. Finally, CWM LLC lifted its position in shares of Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 1,238 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Steven Koh sold 96,620 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value 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 approximately $42,216,416.59. This represents a 2.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of 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 a total of 129,224 shares of company stock valued at $1,737,873 over the last three months. Company insiders own 5.29% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hope Bancorp Trading Down 4.1 %

Shares of HOPE stock opened at $11.40 on Monday. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.53. 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 company has a market cap of $1.38 billion, a PE ratio of 13.57 and a beta of 1.16. The business’s 50 day moving average is $13.01 and its two-hundred day moving average is $12.54.

Hope Bancorp (NASDAQ:HOPE) last issued 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 net margin of 9.81% and a return on equity of 5.52%. The business had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. During the same quarter last year, the firm posted $0.25 earnings per share. Equities analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.91%. Hope Bancorp’s payout ratio is currently 66.67%.

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.