Victory Capital Management Inc. Buys 25,654 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Victory Capital Management Inc. raised its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 18.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,609 shares of the financial services provider’s stock after purchasing an additional 25,654 shares during the quarter. Victory Capital Management Inc. owned 0.14% of Hope Bancorp worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of Hope Bancorp by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after acquiring an additional 53,587 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Hope Bancorp by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock worth $266,000 after buying an additional 2,534 shares during the period. nVerses Capital LLC bought a new position in shares of Hope Bancorp during the third quarter valued at approximately $48,000. CWM LLC grew its stake in shares of Hope Bancorp by 15.7% in the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,238 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Hope Bancorp during the third quarter valued at $508,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HOPE shares. StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Insider Activity

In related news, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were 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 in the company, valued at $42,216,416.59. This represents a 2.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Malone sold 10,428 shares of the 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 sale, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 136,902 shares of company stock valued at $1,829,678. Insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $13.82 on Monday. Hope Bancorp, Inc. has a 1-year low of $9.45 and a 1-year high of $14.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 16.45 and a beta of 1.13. The stock’s 50-day moving average is $12.88 and its two-hundred day moving average is $11.94.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The company had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the previous year, the company posted $0.25 EPS. Analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is currently 66.67%.

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.