Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Denali Advisors LLC

Denali Advisors LLC boosted its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 17.7% in the second quarter, HoldingsChannel.com reports. The fund owned 350,400 shares of the financial services provider’s stock after acquiring an additional 52,700 shares during the quarter. Denali Advisors LLC’s holdings in Hope Bancorp were worth $3,763,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after purchasing an additional 1,632,384 shares during the last quarter. Norges Bank purchased a new position in Hope Bancorp during the 4th quarter worth approximately $9,960,000. Jupiter Asset Management Ltd. raised its position in Hope Bancorp by 800.0% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider’s stock worth $5,684,000 after buying an additional 470,394 shares during the last quarter. American Century Companies Inc. raised its position in 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 buying an additional 296,469 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in Hope Bancorp during the 4th quarter worth approximately $2,977,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods raised their price target on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 30th.

Hope Bancorp Stock Performance

HOPE opened at $12.57 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.52 billion, a PE ratio of 12.57 and a beta of 1.13. The firm has a 50 day moving average of $12.33 and a two-hundred day moving average of $11.24. Hope Bancorp, Inc. has a 12-month low of $8.15 and a 12-month high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $116.90 million during the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The business’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, analysts anticipate that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.46%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s dividend payout ratio (DPR) is 56.00%.

Insider Activity

In other news, Director David P. Malone sold 10,428 shares of Hope Bancorp stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the transaction, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at approximately $321,804.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The disclosure for this sale can be found here. Insiders sold a total of 25,831 shares of company stock valued at $323,657 in the last three months. 5.29% of the stock is currently owned by corporate insiders.

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.