SG Americas Securities LLC Invests $508,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

SG Americas Securities LLC acquired a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 40,432 shares of the financial services provider’s stock, valued at approximately $508,000.

Other large investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its holdings 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 valued at $1,826,000 after acquiring an additional 85,709 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Hope Bancorp during the 1st quarter valued at about $915,000. Assenagon Asset Management S.A. raised its holdings in Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after buying an additional 1,632,384 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Hope Bancorp by 17.4% in the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after buying an additional 296,469 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Hope Bancorp by 18.9% during the first quarter. BNP Paribas Financial Markets now owns 202,012 shares of the financial services provider’s stock valued at $2,325,000 after buying an additional 32,056 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the transaction, the executive vice president now directly owns 25,952 shares of the company’s stock, valued at approximately $321,804.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $12.40, for a total transaction of $39,680.00. Following the sale, the executive vice president now owns 25,952 shares in the company, valued at approximately $321,804.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jinho Doo sold 10,703 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.40, for a total transaction of $132,717.20. Following the completion of the transaction, the director now owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is owned by insiders.

Analysts Set New Price Targets

HOPE has been the topic of several analyst reports. Keefe, Bruyette & Woods upped 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. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday.

Hope Bancorp Trading Up 1.5 %

NASDAQ:HOPE opened at $13.17 on Wednesday. The company has a market cap of $1.59 billion, a PE ratio of 13.17 and a beta of 1.13. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. The company has a 50 day simple moving average of $12.40 and a two-hundred day simple moving average of $11.46. Hope Bancorp, Inc. has a 12 month low of $8.15 and a 12 month high of $13.59.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company had revenue of $116.90 million during the quarter, compared to analyst estimates of $121.27 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. Hope Bancorp’s revenue was down 20.9% compared to the same quarter last year. Research analysts forecast that Hope Bancorp, Inc. will post 0.87 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Thursday, August 8th. Hope Bancorp’s payout ratio is currently 56.00%.

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.