Hope Bancorp, Inc. $HOPE Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,286 shares of the financial services provider’s stock after selling 1,299 shares during the period. Mutual of America Capital Management LLC’s holdings in Hope Bancorp were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HOPE. CKW Financial Group acquired a new stake in shares of Hope Bancorp during the 2nd quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its position in shares of Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 2,558 shares during the last quarter. GAMMA Investing LLC raised its stake in Hope Bancorp by 29.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,211 shares during the last quarter. KBC Group NV raised its position in shares of Hope Bancorp by 16.6% in 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Hope Bancorp in the 1st quarter valued at $105,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Angelee Harris sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were 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 owned 24,241 shares of the company’s stock, valued at approximately $267,135.82. This trade represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 7,102 shares of company stock worth $76,068. 5.16% of the stock is owned by company insiders.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $10.52 on Friday. The company’s fifty day moving average price is $10.86 and its two-hundred day moving average price is $10.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market capitalization of $1.35 billion, a P/E ratio of 26.98 and a beta of 0.92. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $142.03 million for the quarter, compared to analyst estimates of $138.87 million. Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. During the same quarter in the prior year, the business earned $0.21 earnings per share. On average, research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, November 7th. Hope Bancorp’s dividend payout ratio (DPR) is 143.59%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hope Bancorp in a research note on Wednesday, October 8th. DA Davidson set a $14.50 price target on Hope Bancorp in a report on Wednesday. Finally, Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Hope Bancorp presently has an average rating of “Hold” and a consensus target price 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.