Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. grew its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 14.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,595 shares of the financial services provider’s stock after purchasing an additional 5,184 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Hope Bancorp were worth $467,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of HOPE. American Century Companies Inc. grew its stake in Hope Bancorp by 11.9% during the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock worth $10,223,000 after buying an additional 123,041 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Hope Bancorp by 70.5% during the third quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after acquiring an additional 315,935 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Hope Bancorp by 28.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock valued at $9,345,000 after acquiring an additional 170,985 shares during the period. Rafferty Asset Management LLC raised its position in Hope Bancorp by 36.7% in the 4th quarter. Rafferty Asset Management LLC now owns 180,128 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 48,323 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Hope Bancorp by 100.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 330,796 shares of the financial services provider’s stock worth $2,928,000 after purchasing an additional 165,680 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Angelee Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total value of $44,856.00. Following the completion of the sale, the executive vice president now owns 18,527 shares in the company, valued at $197,868.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hope Bancorp news, EVP Angelee Harris sold 4,200 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total value of $44,856.00. Following the completion of the transaction, the executive vice president now directly owns 18,527 shares of the company’s stock, valued at $197,868.36. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven Koh sold 3,857 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $9.94, for a total value of $38,338.58. Following the sale, the director now directly owns 3,294,186 shares in the company, valued at approximately $32,744,208.84. The disclosure for this sale can be found here. Insiders own 5.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HOPE. Wedbush dropped their price objective on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods lowered their target price on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.83.

Hope Bancorp Stock Down 1.9 %

Shares of NASDAQ:HOPE opened at $10.51 on Thursday. Hope Bancorp, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $12.51. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $10.44 and its 200-day simple moving average is $10.97. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 10.51 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). The business had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. As a group, equities research analysts predict that Hope Bancorp, Inc. will post 0.95 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend was Wednesday, May 8th. Hope Bancorp’s dividend payout ratio (DPR) 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.