Truist Financial Corp reduced its position in Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) by 48.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,129 shares of the financial services provider’s stock after selling 32,836 shares during the period. Truist Financial Corp’s holdings in Hope Bancorp were worth $444,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Wipfli Financial Advisors LLC bought a new position in shares of Hope Bancorp in the 3rd quarter worth $40,000. Advisor Group Holdings Inc. lifted its holdings in shares of Hope Bancorp by 51.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,313 shares in the last quarter. KBC Group NV bought a new position in shares of Hope Bancorp in the 2nd quarter worth $132,000. Jane Street Group LLC bought a new position in shares of Hope Bancorp in the 1st quarter worth $163,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Hope Bancorp in the 2nd quarter worth $142,000. 84.30% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on HOPE. StockNews.com began coverage on Hope Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson raised their price objective on Hope Bancorp to $14.00 in a research note on Thursday, October 27th. Finally, Piper Sandler dropped their price objective on Hope Bancorp to $15.00 in a research note on Friday, September 30th.
Hope Bancorp Price Performance
Hope Bancorp (NASDAQ:HOPE – Get Rating) last announced its earnings results on Tuesday, January 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.02). Hope Bancorp had a net margin of 31.65% and a return on equity of 10.76%. During the same period in the previous year, the business earned $0.43 EPS. As a group, analysts forecast that Hope Bancorp, Inc. will post 1.83 EPS for the current fiscal year.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.
- Get a free copy of the StockNews.com research report on Hope Bancorp (HOPE)
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