Choreo LLC Acquires Shares of 10,166 Hope Bancorp, Inc. (NASDAQ:HOPE)

Choreo LLC acquired a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,166 shares of the financial services provider’s stock, valued at approximately $108,000.

A number of other institutional investors have also made changes to their positions in the business. Strategy Asset Managers LLC raised its holdings in shares of Hope Bancorp by 60.9% in the second quarter. Strategy Asset Managers LLC now owns 36,575 shares of the financial services provider’s stock valued at $393,000 after buying an additional 13,845 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in shares of Hope Bancorp by 12.4% in the second quarter. Everhart Financial Group Inc. now owns 34,750 shares of the financial services provider’s stock valued at $373,000 after buying an additional 3,837 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Hope Bancorp by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock valued at $652,000 after buying an additional 1,200 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Hope Bancorp by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock valued at $912,000 after buying an additional 1,484 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock valued at $57,000 after buying an additional 3,163 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Price Performance

Hope Bancorp stock opened at $12.85 on Friday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 12.85 and a beta of 1.13. Hope Bancorp, Inc. has a 1 year low of $8.15 and a 1 year high of $13.59. The business has a 50-day moving average of $12.44 and a 200-day moving average of $11.28. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13.

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

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 4.36%. Hope Bancorp’s payout ratio is currently 56.00%.

Insider Transactions at Hope Bancorp

In related news, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now directly owns 109,991 shares in the company, valued at approximately $1,397,985.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jinho Doo sold 10,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the transaction, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares of the company’s stock, valued at $1,397,985.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,831 shares of company stock worth $323,657. 5.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HOPE. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. Keefe, Bruyette & Woods boosted their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th.

Hope Bancorp Company 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.