QRG Capital Management Inc. Purchases 2,534 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

QRG Capital Management Inc. boosted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,148 shares of the financial services provider’s stock after acquiring an additional 2,534 shares during the period. QRG Capital Management Inc.’s holdings in Hope Bancorp were worth $266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in HOPE. nVerses Capital LLC purchased a new stake in shares of Hope Bancorp in the 3rd quarter worth approximately $48,000. CWM LLC lifted 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 period. SG Americas Securities LLC bought a new stake in Hope Bancorp during the 3rd quarter valued at $508,000. The Manufacturers Life Insurance Company increased its holdings 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. Finally, Public Sector Pension Investment Board raised its position in shares of Hope Bancorp by 7.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 265,341 shares of the financial services provider’s stock worth $2,850,000 after acquiring an additional 19,113 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HOPE shares. Keefe, Bruyette & Woods raised their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 27,104 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $13.83, for a total transaction of $374,848.32. Following the sale, the director now owns 446,806 shares in the company, valued at approximately $6,179,326.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hope Bancorp news, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the completion of the sale, the director now directly owns 446,806 shares in the company, valued at approximately $6,179,326.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Stenger sold 3,200 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $12.40, for a total transaction of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares in the company, valued at $321,804.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,185 shares of company stock worth $714,130. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Up 3.0 %

Shares of HOPE stock opened at $13.94 on Tuesday. The stock’s fifty day moving average price is $12.65 and its 200 day moving average price is $11.75. Hope Bancorp, Inc. has a 1-year low of $9.02 and a 1-year high of $14.53. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 16.60 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.95.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly 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). The business had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter in the previous year, the firm posted $0.25 EPS. On average, research analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be issued a $0.14 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.02%. Hope Bancorp’s dividend payout ratio is currently 66.67%.

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.