Hope Bancorp, Inc. $HOPE Stock Holdings Lifted by Voya Investment Management LLC

Voya Investment Management LLC increased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 318.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 420,501 shares of the financial services provider’s stock after purchasing an additional 320,091 shares during the quarter. Voya Investment Management LLC owned approximately 0.33% of Hope Bancorp worth $4,403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in HOPE. Wellington Management Group LLP increased its position in shares of Hope Bancorp by 43.4% in the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock valued at $64,934,000 after acquiring an additional 1,877,820 shares during the last quarter. American Century Companies Inc. grew its position in Hope Bancorp by 7.7% in the first quarter. American Century Companies Inc. now owns 2,749,086 shares of the financial services provider’s stock valued at $28,783,000 after acquiring an additional 196,172 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Hope Bancorp by 3.9% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,144,748 shares of the financial services provider’s stock worth $11,986,000 after buying an additional 43,280 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Hope Bancorp by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 699,108 shares of the financial services provider’s stock valued at $7,320,000 after buying an additional 24,465 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Hope Bancorp by 147.1% during the 1st quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider’s stock worth $5,153,000 after buying an additional 292,994 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Trading Down 2.6%

NASDAQ HOPE opened at $10.94 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.40 billion, a P/E ratio of 31.26 and a beta of 0.97. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $14.53. The stock’s fifty day moving average price is $10.73 and its 200-day moving average price is $10.43.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.43). The company had revenue of $94.58 million for the quarter, compared to the consensus estimate of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. During the same quarter last year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp’s dividend payout ratio (DPR) is currently 160.00%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,500 shares of Hope Bancorp stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total transaction of $38,570.00. Following the completion of the sale, the executive vice president directly owned 24,241 shares of the company’s stock, valued at $267,135.82. The trade was a 12.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 7,102 shares of company stock valued at $76,068. 5.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Zacks Research lowered shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.25.

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.