Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 39.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 518,793 shares of the financial services provider's stock after selling 344,713 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.43% of Hope Bancorp worth $6,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of Hope Bancorp by 30.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider's stock worth $57,192,000 after purchasing an additional 1,054,124 shares during the period. Assenagon Asset Management S.A. boosted its stake in Hope Bancorp by 47.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider's stock worth $12,968,000 after buying an additional 337,599 shares during the period. Norges Bank acquired a new stake in shares of Hope Bancorp during the fourth quarter valued at about $4,001,000. American Century Companies Inc. raised its stake in shares of Hope Bancorp by 12.5% in the 4th quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider's stock valued at $31,375,000 after acquiring an additional 283,514 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Hope Bancorp by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock worth $22,100,000 after acquiring an additional 240,192 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Hope Bancorp Price Performance

Hope Bancorp stock traded down $0.06 during mid-day trading on Friday, hitting $9.11. 1,177,178 shares of the company were exchanged, compared to its average volume of 785,369. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 12-month low of $8.83 and a 12-month high of $14.54. The business's 50 day simple moving average is $10.56 and its two-hundred day simple moving average is $11.95. The company has a market capitalization of $1.10 billion, a P/E ratio of 11.11 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Thursday, February 6th. Hope Bancorp's dividend payout ratio (DPR) is currently 68.29%.

Insider Activity at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now owns 19,267 shares in the company, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HOPE has been the subject of several research reports. DA Davidson dropped their target price on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Piper Sandler decreased their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $12.88.

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.