Dynamic Technology Lab Private Ltd Acquires New Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Dynamic Technology Lab Private Ltd acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 66,931 shares of the financial services provider's stock, valued at approximately $841,000. Dynamic Technology Lab Private Ltd owned approximately 0.06% of Hope Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Hope Bancorp by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider's stock worth $78,605,000 after acquiring an additional 218,302 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Hope Bancorp by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider's stock worth $29,468,000 after purchasing an additional 33,689 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Hope Bancorp by 232.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider's stock worth $25,065,000 after purchasing an additional 1,632,384 shares during the last quarter. American Century Companies Inc. lifted its stake in Hope Bancorp by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider's stock valued at $21,488,000 after buying an additional 296,469 shares in the last quarter. Finally, Boston Partners boosted its holdings in Hope Bancorp by 4.3% in the 1st quarter. Boston Partners now owns 1,229,582 shares of the financial services provider's stock worth $13,994,000 after buying an additional 51,207 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Daisy Y. Ha sold 27,104 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the completion of the sale, the director now owns 446,806 shares in the company, valued at $6,179,326.98. This trade represents a 5.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Koh sold 96,620 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the transaction, the director now owns 3,167,023 shares in the company, valued at $42,216,416.59. This represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,474 shares of company stock valued at $1,739,618 in the last three months. 5.29% of the stock is currently owned by insiders.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded down $0.03 during midday trading on Thursday, hitting $13.77. The company's stock had a trading volume of 404,405 shares, compared to its average volume of 724,401. Hope Bancorp, Inc. has a 12-month low of $9.45 and a 12-month high of $14.53. The company has a market cap of $1.66 billion, a P/E ratio of 16.39 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The business's 50 day simple moving average is $12.95 and its 200 day simple moving average is $11.99.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp's payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Hope Bancorp from a "hold" rating to a "sell" rating in a report on Thursday, November 21st.

Hope Bancorp Company 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.