Hope Bancorp, Inc. (NASDAQ:HOPE) Holdings Boosted by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,868,839 shares of the financial services provider’s stock after purchasing an additional 29,899 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Hope Bancorp worth $170,448,000 as of its most recent SEC filing.

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

Insider Activity at Hope Bancorp

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

Hope Bancorp Trading Down 2.9 %

NASDAQ:HOPE opened at $9.36 on Monday. The company has a market capitalization of $1.13 billion, a P/E ratio of 11.41 and a beta of 0.96. The stock’s 50 day moving average price is $10.90 and its 200 day moving average price is $12.11. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a 52 week low of $9.04 and a 52 week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is 68.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HOPE. DA Davidson cut their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Piper Sandler cut their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Hope Bancorp presently has an average rating of “Hold” and an average target price of $12.88.

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.