Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 12.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 626,160 shares of the financial services provider’s stock after selling 91,843 shares during the period. AQR Capital Management LLC’s holdings in Hope Bancorp were worth $6,725,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Hope Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock valued at $165,864,000 after purchasing an additional 115,826 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Hope Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock valued at $78,605,000 after acquiring an additional 218,302 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of 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 valued at $25,065,000 after acquiring an additional 1,632,384 shares in the last quarter. American Century Companies Inc. raised its position in shares of 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 valued at $21,488,000 after acquiring an additional 296,469 shares in the last quarter. Finally, Boston Partners raised its position in shares of Hope Bancorp by 4.3% during the 1st quarter. Boston Partners now owns 1,229,582 shares of the financial services provider’s stock valued at $13,994,000 after acquiring an additional 51,207 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hope Bancorp

In other news, Director David P. Malone sold 10,428 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares of the company’s stock, valued at $1,397,985.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares of the company’s stock, valued at $1,397,985.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at approximately $267,071.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th. Keefe, Bruyette & Woods upped their price target on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $12.34 on Friday. Hope Bancorp, Inc. has a 1-year low of $8.15 and a 1-year high of $13.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The business’s fifty day moving average price is $12.43 and its two-hundred day moving average price is $11.37. The firm has a market capitalization of $1.49 billion, a PE ratio of 12.33 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company had revenue of $116.90 million during the quarter, compared to analysts’ expectations of $121.27 million. During the same quarter in the prior year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. On average, research analysts expect that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were paid a $0.14 dividend. The ex-dividend date was Thursday, August 8th. This represents a $0.56 annualized dividend and a dividend yield of 4.54%. Hope Bancorp’s payout ratio is 56.00%.

Hope Bancorp 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.