Assenagon Asset Management S.A. Acquires 337,599 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Assenagon Asset Management S.A. raised its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 47.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,055,151 shares of the financial services provider’s stock after acquiring an additional 337,599 shares during the period. Assenagon Asset Management S.A. owned approximately 0.87% of Hope Bancorp worth $12,968,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in Hope Bancorp by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after purchasing an additional 218,302 shares during the last quarter. State Street Corp lifted its holdings in shares of Hope Bancorp by 1.9% during the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock valued at $77,277,000 after buying an additional 112,824 shares during the period. Wellington Management Group LLP boosted its stake in shares of Hope Bancorp by 30.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after buying an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after acquiring an additional 48,237 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Hope Bancorp by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock valued at $29,468,000 after acquiring an additional 33,689 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, Director Steven Koh sold 96,620 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the sale, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares in the company, valued at $280,297.20. This trade represents a 13.16 % decrease in their position. 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 over the last ninety days. 5.29% of the stock is currently owned by company insiders.

Hope Bancorp Trading Up 0.8 %

NASDAQ:HOPE opened at $12.09 on Friday. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.53. The business has a fifty day moving average price of $12.88 and a 200-day moving average price of $12.57. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.39 and a beta of 1.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last released 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). The firm had revenue of $246.92 million during the quarter, compared to analysts’ expectations of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same period in the prior year, the company posted $0.25 earnings per share. Sell-side analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid 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 4.63%. Hope Bancorp’s payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

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

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.