Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,842,056 shares of the financial services provider’s stock after purchasing an additional 48,237 shares during the period. Geode Capital Management LLC owned 2.35% of Hope Bancorp worth $35,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Hope Bancorp in the 3rd quarter valued at $48,000. Quantbot Technologies LP purchased a new position in shares of Hope Bancorp in the third quarter worth about $58,000. CWM LLC boosted its position in Hope Bancorp by 15.7% during 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. Choreo LLC acquired a new stake in Hope Bancorp in the 2nd quarter valued at about $108,000. Finally, AE Wealth Management LLC purchased a new position in Hope Bancorp in the 2nd quarter worth approximately $112,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Trading Up 0.3 %

Shares of HOPE opened at $12.38 on Thursday. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.53. The firm has a market capitalization of $1.49 billion, a P/E ratio of 14.74 and a beta of 1.15. The firm has a 50-day moving average price of $13.16 and a 200 day moving average price of $12.36. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10.

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

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 4.52%. Hope Bancorp’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Insider Activity

In other Hope Bancorp news, Director Steven Koh sold 96,620 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value of $1,287,944.60. Following the sale, the director now owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daisy Y. Ha sold 27,104 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $13.83, for a total value of $374,848.32. Following the transaction, the director now owns 446,806 shares in the company, valued at $6,179,326.98. This trade represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,224 shares of company stock valued at $1,737,873 in the last quarter. Insiders own 5.29% of the company’s stock.

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.