Denali Advisors LLC Increases Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Denali Advisors LLC increased its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 297,700 shares of the financial services provider’s stock after purchasing an additional 14,200 shares during the quarter. Denali Advisors LLC owned 0.25% of Hope Bancorp worth $3,427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Hope Bancorp by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock valued at $165,864,000 after acquiring an additional 115,826 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Hope Bancorp by 6.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,844,319 shares of the financial services provider’s stock worth $22,279,000 after purchasing an additional 115,543 shares during the last quarter. American Century Companies Inc. lifted its holdings in Hope Bancorp by 11.9% during the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock valued at $10,223,000 after buying an additional 123,041 shares in the last quarter. Norges Bank purchased a new stake in Hope Bancorp in the 4th quarter valued at about $9,960,000. Finally, Assenagon Asset Management S.A. grew its stake in Hope Bancorp by 28.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock worth $9,345,000 after acquiring an additional 170,985 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a research note on Tuesday, April 30th. Wedbush dropped their price target on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Hope Bancorp presently has an average rating of “Hold” and a consensus target price of $11.83.

Insiders Place Their Bets

In other Hope Bancorp news, Director Steven Koh sold 3,857 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.94, for a total value of $38,338.58. Following the completion of the sale, the director now directly owns 3,294,186 shares in the company, valued at $32,744,208.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Hope Bancorp news, EVP Angelee Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total transaction of $44,856.00. Following the completion of the transaction, the executive vice president now directly owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Koh sold 3,857 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total transaction of $38,338.58. Following the completion of the sale, the director now directly owns 3,294,186 shares in the company, valued at $32,744,208.84. The disclosure for this sale can be found here. Corporate insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Down 1.9 %

NASDAQ HOPE traded down $0.20 during midday trading on Wednesday, hitting $10.51. 307,748 shares of the company traded hands, compared to its average volume of 686,781. The company has a market cap of $1.27 billion, a PE ratio of 10.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00. Hope Bancorp, Inc. has a 52 week low of $8.14 and a 52 week high of $12.51. The company’s 50-day simple moving average is $10.45 and its 200-day simple moving average is $10.97.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The company had revenue of $123.30 million for the quarter, compared to the consensus estimate of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. Hope Bancorp’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 0.95 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.14 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.33%. Hope Bancorp’s dividend payout ratio (DPR) is 56.00%.

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.