Hope Bancorp, Inc. $HOPE Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,739,463 shares of the financial services provider’s stock after purchasing an additional 48,394 shares during the quarter. Bank of New York Mellon Corp owned about 1.36% of Hope Bancorp worth $18,664,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of HOPE. CKW Financial Group acquired a new position in Hope Bancorp during the 2nd quarter valued at approximately $32,000. Geneos Wealth Management Inc. increased its position in shares of Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 2,558 shares during the period. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 1,211 shares during the period. Entropy Technologies LP purchased a new position in Hope Bancorp in the 1st quarter worth $110,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Hope Bancorp during the 2nd quarter worth about $116,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HOPE has been the topic of a number of research reports. DA Davidson set a $14.50 price objective on Hope Bancorp in a report on Wednesday, October 29th. Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Hope Bancorp in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.25.

Insider Buying and Selling at Hope Bancorp

In related news, EVP Angelee Harris sold 3,500 shares of the company’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 transaction, the executive vice president owned 24,241 shares of the company’s stock, valued at approximately $267,135.82. This represents a 12.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.16% of the stock is currently owned by corporate insiders.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.29 on Monday. 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 stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 26.39 and a beta of 0.96. The firm’s 50 day simple moving average is $10.71 and its 200-day simple moving average is $10.61. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $14.38.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.The firm had revenue of $142.03 million for the quarter, compared to analysts’ expectations of $138.87 million. During the same period last year, the company posted $0.21 earnings per share. Analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.4%. Hope Bancorp’s dividend payout ratio (DPR) is 143.59%.

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.