Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 27.9% in the fourth quarter, Holdings Channel reports. The firm owned 182,593 shares of the financial services provider’s stock after selling 70,529 shares during the period. Thrivent Financial for Lutherans’ holdings in Hope Bancorp were worth $2,244,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Jane Street Group LLC increased its stake in Hope Bancorp by 66.8% during the 3rd quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock worth $2,147,000 after buying an additional 68,460 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hope Bancorp by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock worth $11,218,000 after acquiring an additional 95,570 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Hope Bancorp by 47.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after acquiring an additional 337,599 shares during the last quarter. Barclays PLC increased its position in shares of Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after purchasing an additional 132,677 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Hope Bancorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock valued at $35,703,000 after purchasing an additional 48,237 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Down 2.1 %

NASDAQ HOPE opened at $10.42 on Friday. The business’s fifty day simple moving average is $11.11 and its 200-day simple moving average is $12.19. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.26 billion, a PE ratio of 12.71 and a beta of 1.15. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HOPE shares. DA Davidson dropped their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler lowered their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Hope Bancorp presently has a consensus rating of “Hold” and a consensus price target of $12.88.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.29% of the stock is currently owned by company insiders.

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.