Royce & Associates LP Has $621,000 Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Royce & Associates LP cut its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 51.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,475 shares of the financial services provider’s stock after selling 52,135 shares during the period. Royce & Associates LP’s holdings in Hope Bancorp were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System boosted its holdings in Hope Bancorp by 117.5% in 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 during the last quarter. Assenagon Asset Management S.A. boosted its stake 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 valued at $25,065,000 after acquiring an additional 1,632,384 shares during 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 during the period. American Century Companies Inc. increased its holdings in 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 valued at $21,488,000 after purchasing an additional 296,469 shares during the last quarter. Finally, Denali Advisors LLC grew its position in shares of 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 buying an additional 52,700 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director Daisy Y. Ha sold 27,104 shares of the company’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 in the company, valued at $6,179,326.98. This represents a 5.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David P. Malone sold 10,428 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,282 shares of company stock valued at $541,733 in the last three months. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Stock Up 0.3 %

NASDAQ:HOPE opened at $13.37 on Thursday. The stock has a 50-day simple moving average of $12.82 and a 200 day simple moving average of $11.89. Hope Bancorp, Inc. has a 52-week low of $9.45 and a 52-week high of $14.53. The company has a market cap of $1.61 billion, a PE ratio of 15.92 and a beta of 1.13. 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 for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same period in the prior year, the business earned $0.25 earnings per share. On average, sell-side analysts expect 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 paid a $0.14 dividend. The ex-dividend date is Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.19%. Hope Bancorp’s payout ratio is currently 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.