Swiss National Bank Sells 27,100 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Swiss National Bank lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,557 shares of the financial services provider’s stock after selling 27,100 shares during the quarter. Swiss National Bank owned about 0.20% of Hope Bancorp worth $2,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Hope Bancorp by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,776 shares of the financial services provider’s stock worth $15,300,000 after buying an additional 145,721 shares during the last quarter. Boston Partners increased its position in shares of Hope Bancorp by 32.5% during the third quarter. Boston Partners now owns 1,216,170 shares of the financial services provider’s stock worth $10,742,000 after purchasing an additional 298,349 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Hope Bancorp by 11.9% during the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock valued at $10,223,000 after purchasing an additional 123,041 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Hope Bancorp by 28.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock worth $9,345,000 after purchasing an additional 170,985 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Hope Bancorp by 70.5% during the 3rd quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after buying an additional 315,935 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Transactions at Hope Bancorp

In other news, EVP Angelee Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total transaction of $44,856.00. Following the completion of the sale, the executive vice president now owns 18,527 shares of the company’s stock, valued at $197,868.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $10.61 on Thursday. The company has a market cap of $1.28 billion, a PE ratio of 10.61 and a beta of 1.15. Hope Bancorp, Inc. has a twelve month low of $7.93 and a twelve month high of $12.51. The company’s 50 day moving average is $10.81 and its 200 day moving average is $10.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The company had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. During the same period last year, the business earned $0.33 earnings per share. The firm’s revenue was down 14.9% on a year-over-year basis. On average, sell-side analysts forecast that Hope Bancorp, Inc. will post 0.95 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.28%. Hope Bancorp’s payout ratio is 56.00%.

Wall Street Analyst Weigh In

HOPE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lowered their price target on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, May 1st. Wedbush dropped their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Finally, DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a report on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.83.

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.