Charles Schwab Investment Management Inc. Grows Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Charles Schwab Investment Management Inc. increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,346,215 shares of the financial services provider’s stock after buying an additional 33,689 shares during the period. Charles Schwab Investment Management Inc. owned about 1.94% of Hope Bancorp worth $29,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HOPE. Assenagon Asset Management S.A. grew its holdings in Hope Bancorp by 232.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after acquiring an additional 1,632,384 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Hope Bancorp by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after acquiring an additional 53,587 shares in the last quarter. American Century Companies Inc. grew its holdings in Hope Bancorp by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after acquiring an additional 296,469 shares in the last quarter. Denali Advisors LLC grew its holdings in Hope Bancorp by 17.7% during the 2nd quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider’s stock worth $3,763,000 after acquiring an additional 52,700 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Hope Bancorp during the 2nd quarter worth $587,000. 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 business’s stock in a transaction dated 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 sale, the director now directly owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares in the company, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,974 shares of company stock valued at $1,720,898 in the last ninety days. Company insiders own 5.29% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

Hope Bancorp Trading Up 0.7 %

NASDAQ HOPE opened at $13.58 on Thursday. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.53. The company has a 50-day simple moving average of $13.02 and a 200-day simple moving average of $12.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.64 billion, a PE ratio of 16.06 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 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 business had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. During the same period last year, the firm posted $0.25 earnings per share. On average, equities analysts forecast that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

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.