Hennion & Walsh Asset Management Inc. Decreases Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Hennion & Walsh Asset Management Inc. trimmed its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 22.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,626 shares of the financial services provider’s stock after selling 8,822 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Hope Bancorp were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of HOPE. Wellington Management Group LLP lifted its holdings in Hope Bancorp by 30.1% during 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. Assenagon Asset Management S.A. lifted its holdings in Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after buying an additional 337,599 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 worth $78,605,000 after purchasing an additional 218,302 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Hope Bancorp by 82.2% during the second quarter. Thrivent Financial for Lutherans now owns 389,706 shares of the financial services provider’s stock worth $4,186,000 after purchasing an additional 175,788 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after purchasing an additional 132,677 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Hope Bancorp Stock Up 0.9 %

HOPE opened at $12.20 on Wednesday. The stock has a market capitalization of $1.47 billion, a P/E ratio of 14.52 and a beta of 1.16. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.53. The business’s 50-day simple moving average is $12.81 and its 200-day simple moving average is $12.61. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly 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 last year, the firm earned $0.25 EPS. Analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

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 dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.59%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Insiders Place Their Bets

In other news, Director Daisy Y. Ha sold 27,104 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $13.83, for a total transaction of $374,848.32. Following the sale, the director now owns 446,806 shares of the company’s stock, valued at $6,179,326.98. The trade was a 5.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the sale, 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. In the last 90 days, insiders have sold 129,224 shares of company stock worth $1,737,873. Company insiders own 5.29% of the company’s stock.

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.