Hope Bancorp, Inc. (NASDAQ:HOPE) Holdings Raised by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 9.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 648,095 shares of the financial services provider’s stock after acquiring an additional 53,587 shares during the period. Principal Financial Group Inc.’s holdings in Hope Bancorp were worth $8,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in Hope Bancorp in the third quarter valued at about $48,000. Quantbot Technologies LP acquired a new stake in shares of Hope Bancorp during the third quarter worth $58,000. Choreo LLC bought a new position in shares of Hope Bancorp during the second quarter worth $108,000. AE Wealth Management LLC bought a new stake in Hope Bancorp during the 2nd quarter worth approximately $112,000. Finally, CWM LLC raised its position in Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,238 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Up 0.6 %

Shares of NASDAQ HOPE opened at $12.29 on Wednesday. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50-day moving average price of $13.11 and a 200-day moving average price of $12.42. The stock has a market capitalization of $1.48 billion, a P/E ratio of 14.63 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share 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 business had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, equities research analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.56%. Hope Bancorp’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction dated Monday, November 25th. The stock was 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. The trade was a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Koh sold 96,620 shares of the business’s stock in a transaction dated 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 owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,224 shares of company stock worth $1,737,873. Corporate insiders own 5.29% of the company’s stock.

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.