VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Stake in Hope Bancorp, Inc. $HOPE

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,800 shares of the financial services provider’s stock, valued at approximately $116,000.

Several other large investors also recently added to or reduced their stakes in HOPE. Wealth Enhancement Advisory Services LLC bought a new stake in Hope Bancorp during the first quarter valued at $105,000. KBC Group NV boosted its stake in Hope Bancorp by 16.6% during the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,176 shares during the period. Teacher Retirement System of Texas bought a new stake in Hope Bancorp during the first quarter valued at $186,000. Principal Financial Group Inc. lifted its stake in Hope Bancorp by 3.6% during the first quarter. Principal Financial Group Inc. now owns 699,108 shares of the financial services provider’s stock worth $7,320,000 after purchasing an additional 24,465 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Hope Bancorp by 14.7% during the first quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Angelee Harris sold 3,500 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total value of $38,570.00. Following the completion of the sale, the executive vice president owned 24,241 shares of the company’s stock, valued at approximately $267,135.82. The trade was a 12.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 7,102 shares of company stock valued at $76,068. Insiders own 5.16% of the company’s stock.

Hope Bancorp Trading Up 1.9%

NASDAQ HOPE opened at $10.73 on Monday. Hope Bancorp, Inc. has a 1-year low of $8.82 and a 1-year high of $14.53. 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 50-day moving average of $10.84 and a 200-day moving average of $10.52. The firm has a market cap of $1.38 billion, a PE ratio of 30.66 and a beta of 0.92.

Wall Street Analyst Weigh In

HOPE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hope Bancorp in a research note on Saturday. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.25.

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.