Thrivent Financial for Lutherans Lowers Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Thrivent Financial for Lutherans lowered its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 35.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 253,122 shares of the financial services provider's stock after selling 136,584 shares during the quarter. Thrivent Financial for Lutherans owned 0.21% of Hope Bancorp worth $3,179,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of HOPE. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Hope Bancorp by 6.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 108,683 shares of the financial services provider's stock worth $1,248,000 after acquiring an additional 6,481 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Hope Bancorp by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 174,729 shares of the financial services provider's stock worth $2,012,000 after purchasing an additional 7,652 shares in the last quarter. EMC Capital Management lifted its stake in Hope Bancorp by 28.2% during the first quarter. EMC Capital Management now owns 29,566 shares of the financial services provider's stock worth $340,000 after purchasing an additional 6,500 shares in the last quarter. Boston Partners boosted its position in shares of Hope Bancorp by 4.3% during the first 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 period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider's stock valued at $25,065,000 after buying an additional 1,632,384 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Activity

In other Hope Bancorp news, Director David P. Malone sold 10,428 shares of the company's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value of $1,287,944.60. Following the sale, the director now owns 3,167,023 shares in the company, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 136,902 shares of company stock worth $1,829,678. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Stock Down 1.6 %

Shares of NASDAQ HOPE traded down $0.22 during mid-day trading on Tuesday, hitting $13.80. The company had a trading volume of 403,396 shares, compared to its average volume of 725,698. Hope Bancorp, Inc. has a 1-year low of $9.45 and a 1-year high of $14.53. The company has a market capitalization of $1.67 billion, a PE ratio of 16.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The business's 50-day simple moving average is $12.91 and its 200 day simple moving average is $11.96.

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

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp's dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HOPE. StockNews.com lowered Hope Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. Keefe, Bruyette & Woods increased their price target on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 30th.

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.