KBC Group NV Has $87,000 Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

KBC Group NV raised its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 36.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,093 shares of the financial services provider’s stock after purchasing an additional 1,901 shares during the period. KBC Group NV’s holdings in Hope Bancorp were worth $87,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jane Street Group LLC raised its stake in shares of 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 worth $2,147,000 after purchasing an additional 68,460 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Hope Bancorp by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after purchasing an additional 53,587 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Hope Bancorp by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock worth $11,218,000 after purchasing an additional 95,570 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after purchasing an additional 337,599 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Hope Bancorp by 109.9% during the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after purchasing an additional 132,677 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

HOPE opened at $11.56 on Monday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 14.10 and a beta of 1.15. The stock’s 50 day moving average price is $12.34 and its two-hundred day moving average price is $12.59. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.53.

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

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Thursday, February 6th. Hope Bancorp’s payout ratio is presently 68.29%.

Analyst Ratings Changes

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

Insider Transactions at Hope Bancorp

In other news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,055 shares of company stock valued at $1,396,908. 5.29% of the stock is owned by corporate insiders.

About Hope Bancorp

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.