UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 21,598 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,280 shares of the financial services provider’s stock after selling 21,598 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hope Bancorp were worth $2,767,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Hope Bancorp by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider’s stock worth $78,605,000 after acquiring an additional 218,302 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Hope Bancorp by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock worth $29,468,000 after purchasing an additional 33,689 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 purchasing an additional 1,632,384 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Hope Bancorp by 17.4% during 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 buying an additional 296,469 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in 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 worth $8,140,000 after buying an additional 53,587 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Insider Activity

In related news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Koh sold 96,620 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the sale, the director now directly owns 3,167,023 shares of the company’s stock, valued at approximately $42,216,416.59. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,224 shares of company stock worth $1,737,873. 5.29% of the stock is currently owned by insiders.

Hope Bancorp Stock Up 0.4 %

HOPE opened at $13.33 on Friday. The company has a 50 day moving average of $13.18 and a 200 day moving average of $12.22. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.53. The company has a market cap of $1.61 billion, a PE ratio of 15.87 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 analysts’ consensus estimates of $0.22 by ($0.01). Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. The company had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same period in the previous 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 year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.14 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 4.20%. Hope Bancorp’s payout ratio is currently 66.67%.

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.