Illinois Municipal Retirement Fund Sells 1,348 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Illinois Municipal Retirement Fund lessened its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 65,422 shares of the financial services provider’s stock after selling 1,348 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Hope Bancorp worth $804,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of HOPE. Jane Street Group LLC raised its position in Hope Bancorp by 66.8% during the 3rd quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock valued at $2,147,000 after purchasing an additional 68,460 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Hope Bancorp by 9.0% during the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after buying an additional 53,587 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Hope Bancorp by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock valued at $11,218,000 after acquiring an additional 95,570 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Hope Bancorp by 47.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after acquiring an additional 337,599 shares during the period. Finally, Barclays PLC lifted its stake in Hope Bancorp by 109.9% in the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after acquiring an additional 132,677 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

HOPE has been the topic of a number of research reports. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Piper Sandler reduced their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, DA Davidson lowered their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.88.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares in the company, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.29% of the company’s stock.

Hope Bancorp Trading Down 1.0 %

Shares of NASDAQ:HOPE opened at $10.81 on Tuesday. The business’s 50-day moving average is $11.71 and its 200 day moving average is $12.46. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.54. The firm has a market capitalization of $1.31 billion, a P/E ratio of 13.18 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.18%. Hope Bancorp’s dividend payout ratio is currently 68.29%.

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.