Jane Street Group LLC Grows Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Jane Street Group LLC increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 66.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,936 shares of the financial services provider’s stock after buying an additional 68,460 shares during the quarter. Jane Street Group LLC owned 0.14% of Hope Bancorp worth $2,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HOPE. nVerses Capital LLC purchased a new position in shares of Hope Bancorp in the third quarter valued at about $48,000. Quantbot Technologies LP bought a new stake in shares of Hope Bancorp in the third quarter worth about $58,000. Fifth Third Bancorp grew its stake in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 3,163 shares during the last quarter. CWM LLC increased its holdings in Hope Bancorp by 15.7% during the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,238 shares during the period. Finally, Choreo LLC bought a new position in Hope Bancorp during the 2nd quarter valued at approximately $108,000. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Trading Down 0.2 %

Shares of HOPE opened at $12.34 on Tuesday. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The firm’s 50-day moving average price is $13.21 and its 200-day moving average price is $12.33. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 14.69 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The firm had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same period in the previous year, the firm posted $0.25 earnings per share. Sell-side analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.14 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 4.54%. Hope Bancorp’s dividend payout ratio (DPR) is 66.67%.

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the sale, the director now owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the transaction, the director now owns 446,806 shares of the company’s stock, valued at $6,179,326.98. The trade was a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,224 shares of company stock valued at $1,737,873. 5.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

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.