Rhumbline Advisers Decreases Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Rhumbline Advisers decreased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 399,506 shares of the financial services provider’s stock after selling 5,393 shares during the quarter. Rhumbline Advisers owned about 0.33% of Hope Bancorp worth $4,291,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System lifted its position in shares of Hope Bancorp by 117.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 158,626 shares of the financial services provider’s stock worth $1,826,000 after purchasing an additional 85,709 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Hope Bancorp during the 1st quarter valued at about $915,000. Assenagon Asset Management S.A. raised its holdings in shares of Hope Bancorp by 232.7% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets boosted its position in Hope Bancorp by 18.9% during the 1st quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock valued at $2,325,000 after acquiring an additional 32,056 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in shares of Hope Bancorp by 36.7% in the 4th quarter. Rafferty Asset Management LLC now owns 180,128 shares of the financial services provider’s stock valued at $2,176,000 after acquiring an additional 48,323 shares during the period. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Up 1.2 %

Hope Bancorp stock opened at $12.57 on Tuesday. The business’s 50-day simple moving average is $12.33 and its two-hundred day simple moving average is $11.24. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $1.52 billion, a PE ratio of 12.57 and a beta of 1.13. Hope Bancorp, Inc. has a fifty-two week low of $8.15 and a fifty-two week high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The firm had revenue of $116.90 million for the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. Hope Bancorp’s revenue for the quarter was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Equities analysts anticipate that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Thursday, August 8th. Hope Bancorp’s dividend payout ratio (DPR) is 56.00%.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 3,200 shares of the 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 transaction, the executive vice president now owns 25,952 shares in the company, valued at approximately $321,804.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director David P. Malone sold 10,428 shares of the company’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 sale, the director now owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Stenger sold 3,200 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,831 shares of company stock valued at $323,657. Corporate insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods increased their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report 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.