Swiss National Bank Buys 3,000 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Swiss National Bank lifted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE – Get Rating) by 1.1% in the 4th quarter, Holdings Channel reports. The fund owned 288,457 shares of the financial services provider’s stock after acquiring an additional 3,000 shares during the quarter. Swiss National Bank’s holdings in Hope Bancorp were worth $3,695,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its holdings in Hope Bancorp by 89.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider’s stock worth $31,954,000 after purchasing an additional 1,092,042 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Hope Bancorp by 22.1% during the third quarter. Macquarie Group Ltd. now owns 4,421,810 shares of the financial services provider’s stock worth $55,915,000 after buying an additional 801,315 shares during the period. State Street Corp grew its holdings in shares of Hope Bancorp by 7.2% during the first quarter. State Street Corp now owns 7,013,612 shares of the financial services provider’s stock worth $112,779,000 after buying an additional 469,232 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hope Bancorp by 19.2% during the third quarter. Victory Capital Management Inc. now owns 1,601,372 shares of the financial services provider’s stock worth $20,241,000 after buying an additional 257,886 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Hope Bancorp by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,414,171 shares of the financial services provider’s stock valued at $118,996,000 after buying an additional 196,813 shares during the last quarter. Institutional investors own 84.30% of the company’s stock.

Hope Bancorp Stock Down 2.9 %

HOPE stock opened at $8.13 on Monday. Hope Bancorp, Inc. has a twelve month low of $7.42 and a twelve month high of $15.73. The company has a market cap of $974.95 million, a price-to-earnings ratio of 4.96 and a beta of 1.15. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.19. The business has a 50 day moving average price of $9.31 and a two-hundred day moving average price of $11.72.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Thursday, May 4th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 6.89%. Hope Bancorp’s payout ratio is 34.15%.

Wall Street Analyst Weigh In

HOPE has been the subject of a number of recent research reports. StockNews.com began coverage on Hope Bancorp in a research report on Thursday. They set a “sell” rating for the company. Keefe, Bruyette & Woods reduced their target price on shares of Hope Bancorp from $14.00 to $12.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Finally, TheStreet lowered shares of Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Thursday, May 4th.

Insiders Place Their Bets

In other news, Director William J. Lewis acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The stock was bought at an average price of $10.60 per share, with a total value of $106,000.00. Following the transaction, the director now directly owns 27,887 shares in the company, valued at approximately $295,602.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director William J. Lewis bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $10.60 per share, for a total transaction of $106,000.00. Following the purchase, the director now owns 27,887 shares of the company’s stock, valued at approximately $295,602.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas Stenger sold 4,582 shares of Hope Bancorp stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $8.86, for a total value of $40,596.52. Following the transaction, the executive vice president now owns 39,293 shares of the company’s stock, valued at approximately $348,135.98. The disclosure for this sale can be found here. Insiders own 5.05% of the company’s stock.

Hope Bancorp Profile

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Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.