Hope Bancorp, Inc. (NASDAQ:HOPE) Stock Holdings Cut by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,809,260 shares of the financial services provider’s stock after selling 32,796 shares during the period. Geode Capital Management LLC owned approximately 2.33% of Hope Bancorp worth $34,534,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HOPE. Smartleaf Asset Management LLC lifted its holdings in Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,553 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 848 shares in the last quarter. KBC Group NV lifted its stake in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,901 shares during the last quarter. Cibc World Markets Corp bought a new stake in Hope Bancorp during the fourth quarter worth approximately $133,000. Finally, Quantinno Capital Management LP grew its position in Hope Bancorp by 8.5% in the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after buying an additional 919 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the sale, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. This represents a 17.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Trading Down 0.4 %

NASDAQ HOPE opened at $9.40 on Thursday. The firm’s 50 day moving average price is $10.42 and its two-hundred day moving average price is $11.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a twelve month low of $8.83 and a twelve month high of $14.54. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 11.46 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is 68.29%.

Wall Street Analysts Forecast Growth

HOPE has been the subject of several research reports. DA Davidson reduced their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Piper Sandler decreased their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.88.

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.