Sequoia Financial Advisors LLC Has $156,000 Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Sequoia Financial Advisors LLC trimmed its position in Hope Bancorp, Inc. (NASDAQ:HOPEFree Report) by 57.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,532 shares of the financial services provider’s stock after selling 18,540 shares during the period. Sequoia Financial Advisors LLC’s holdings in Hope Bancorp were worth $156,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its position in shares of Hope Bancorp by 8.8% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,033 shares during the period. Bridge City Capital LLC increased its stake in Hope Bancorp by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 167,405 shares of the financial services provider’s stock worth $1,927,000 after purchasing an additional 1,263 shares in the last quarter. CWM LLC increased its stake in Hope Bancorp by 39.1% during the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 2,513 shares in the last quarter. Denali Advisors LLC increased its stake in Hope Bancorp by 1.4% during the 4th quarter. Denali Advisors LLC now owns 283,500 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 4,000 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Hope Bancorp by 26.9% during the 4th quarter. QRG Capital Management Inc. now owns 18,934 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 4,017 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction on Tuesday, May 21st. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Steven Koh sold 3,857 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total transaction of $38,338.58. Following the completion of the sale, the director now owns 3,294,186 shares of the company’s stock, valued at approximately $32,744,208.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 18,527 shares in the company, valued at $197,868.36. The disclosure for this sale can be found here. Insiders own 5.29% of the company’s stock.

Hope Bancorp Trading Up 3.6 %

NASDAQ HOPE opened at $10.92 on Thursday. The company has a market cap of $1.32 billion, a PE ratio of 10.92 and a beta of 1.15. 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, Inc. has a 12 month low of $8.15 and a 12 month high of $12.51. The stock has a 50 day moving average of $10.46 and a 200-day moving average of $10.92.

Hope Bancorp (NASDAQ:HOPEGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The business had revenue of $123.30 million for the quarter, compared to analyst estimates of $130.42 million. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was down 14.9% compared to the same quarter last year. On average, equities research analysts anticipate that Hope Bancorp, Inc. will post 0.95 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.13%. The ex-dividend date was Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is 56.00%.

Analysts Set New Price Targets

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

View Our Latest Analysis on HOPE

About Hope Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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