nVerses Capital LLC Purchases New Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

nVerses Capital LLC acquired a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,800 shares of the financial services provider’s stock, valued at approximately $48,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Hope Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock valued at $165,864,000 after acquiring an additional 115,826 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Hope Bancorp by 3.1% during the second 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. Assenagon Asset Management S.A. raised its position 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 valued at $25,065,000 after purchasing an additional 1,632,384 shares during the period. American Century Companies Inc. lifted its stake in shares of Hope Bancorp by 17.4% in the second 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, Boston Partners boosted its holdings in shares of Hope Bancorp by 4.3% during the 1st quarter. Boston Partners now owns 1,229,582 shares of the financial services provider’s stock worth $13,994,000 after buying an additional 51,207 shares during the period. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $12.65 on Wednesday. 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, Inc. has a 1 year low of $8.15 and a 1 year high of $13.59. The firm’s fifty day simple moving average is $12.51 and its 200 day simple moving average is $11.52. The firm has a market capitalization of $1.53 billion, a P/E ratio of 12.65 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data 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. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The company had revenue of $116.90 million for the quarter, compared to the consensus estimate of $121.27 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue was down 20.9% compared to the same quarter last year. As a group, sell-side analysts predict that Hope Bancorp, Inc. will post 0.87 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 annualized dividend and a yield of 4.43%. Hope Bancorp’s dividend payout ratio (DPR) is 56.00%.

Insiders Place Their Bets

In other news, EVP Thomas Stenger sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $12.40, for a total transaction of $39,680.00. Following the sale, the executive vice president now directly owns 25,952 shares in the company, valued at approximately $321,804.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Thomas Stenger sold 3,200 shares of Hope Bancorp stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00. Following the sale, the executive vice president now directly owns 25,952 shares in the company, valued at approximately $321,804.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction dated 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 owns 109,991 shares in the company, valued at approximately $1,397,985.61. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,831 shares of company stock worth $323,657. 5.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods lifted their price objective on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

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.