State Street Corp Has $77.28 Million Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

State Street Corp grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,152,656 shares of the financial services provider’s stock after buying an additional 112,824 shares during the quarter. State Street Corp owned 5.10% of Hope Bancorp worth $77,277,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in HOPE. Jupiter Asset Management Ltd. lifted its holdings in shares of Hope Bancorp by 800.0% during the second quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock valued at $5,684,000 after acquiring an additional 470,394 shares during the period. American Century Companies Inc. increased its position in shares of Hope Bancorp by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Hope Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after purchasing an additional 218,302 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Hope Bancorp by 82.2% in the second quarter. Thrivent Financial for Lutherans now owns 389,706 shares of the financial services provider’s stock valued at $4,186,000 after buying an additional 175,788 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Hope Bancorp during the third quarter worth about $841,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Stock Performance

Shares of NASDAQ:HOPE opened at $12.95 on Wednesday. The business has a fifty day moving average of $13.22 and a 200-day moving average of $12.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp, Inc. has a twelve month low of $9.80 and a twelve month high of $14.53. The firm has a market cap of $1.56 billion, a PE ratio of 15.42 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data 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 company had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the previous year, the business posted $0.25 EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.32%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s dividend payout ratio is 66.67%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Hope Bancorp

In other news, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction on 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 owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 value of $42,480.00. Following the completion of the transaction, the executive vice president now owns 19,795 shares in the company, valued at approximately $280,297.20. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,224 shares of company stock worth $1,737,873. Insiders own 5.29% of the company’s stock.

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.