Amalgamated Bank Sells 1,028 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Amalgamated Bank decreased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,556 shares of the financial services provider’s stock after selling 1,028 shares during the quarter. Amalgamated Bank’s holdings in Hope Bancorp were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Hope Bancorp during the third quarter worth about $48,000. SageView Advisory Group LLC acquired a new position in Hope Bancorp during the 1st quarter worth approximately $49,000. Fifth Third Bancorp grew its stake in shares of Hope Bancorp by 149.5% during the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 3,163 shares in the last quarter. Choreo LLC acquired a new stake in shares of Hope Bancorp in the second quarter valued at approximately $108,000. Finally, AE Wealth Management LLC bought a new stake in shares of Hope Bancorp in the second quarter worth $112,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling at Hope Bancorp

In related 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 transaction, the director now directly owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. The trade was a 5.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the sale, the director now directly owns 21,538 shares of the company’s stock, valued at $267,071.20. This represents a 33.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,985 shares of company stock worth $674,450 over the last 90 days. Company insiders own 5.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Keefe, Bruyette & Woods increased their price objective on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 30th.

Hope Bancorp Trading Down 0.4 %

NASDAQ HOPE opened at $13.51 on Friday. Hope Bancorp, Inc. has a 12 month low of $9.45 and a 12 month high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average of $12.74 and a 200-day moving average of $11.83. The company has a market cap of $1.63 billion, a PE ratio of 16.08 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. During the same quarter in the prior year, the business earned $0.25 EPS. On average, equities research analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Thursday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

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.