Public Sector Pension Investment Board Trims Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Public Sector Pension Investment Board reduced its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,141 shares of the financial services provider’s stock after selling 9,200 shares during the period. Public Sector Pension Investment Board owned 0.21% of Hope Bancorp worth $3,217,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Hope Bancorp during the 3rd quarter worth approximately $48,000. Quantbot Technologies LP bought a new stake in Hope Bancorp during the 3rd quarter valued at approximately $58,000. Fifth Third Bancorp lifted its holdings in Hope Bancorp by 149.5% in the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 3,163 shares in the last quarter. CWM LLC boosted its stake in Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,238 shares during the period. Finally, Choreo LLC bought a new stake in shares of Hope Bancorp during the second quarter valued at approximately $108,000. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $13.49 on Wednesday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 16.06 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 stock’s 50 day simple moving average is $13.00 and its two-hundred day simple moving average is $12.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly 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 return on equity of 5.52% and a net margin of 9.81%. The business had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a $0.14 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.15%. Hope Bancorp’s dividend payout ratio is currently 66.67%.

Insiders Place Their Bets

In other news, EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the transaction, the executive vice president now owns 19,795 shares of the company’s stock, valued at approximately $280,297.20. The trade was a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven Koh sold 96,620 shares of the firm’s stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,974 shares of company stock valued at $1,720,898 over the last ninety days. 5.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st.

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.