Royce & Associates LP Sells 52,135 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Royce & Associates LP decreased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 51.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,475 shares of the financial services provider's stock after selling 52,135 shares during the period. Royce & Associates LP's holdings in Hope Bancorp were worth $621,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in Hope Bancorp by 2.0% during the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider's stock worth $652,000 after acquiring an additional 1,200 shares during the period. CWM LLC lifted its holdings in shares of Hope Bancorp by 15.7% during the third quarter. CWM LLC now owns 9,109 shares of the financial services provider's stock valued at $114,000 after purchasing an additional 1,238 shares during the last quarter. Inspire Investing LLC lifted its stake in Hope Bancorp by 4.5% during the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider's stock valued at $350,000 after buying an additional 1,413 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Hope Bancorp by 1.8% in the second quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider's stock worth $912,000 after buying an additional 1,484 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Hope Bancorp by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider's stock worth $645,000 after purchasing an additional 1,597 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Stock Up 0.3 %

Shares of HOPE opened at $13.37 on Thursday. Hope Bancorp, Inc. has a 12 month low of $9.45 and a 12 month high of $14.53. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $12.82 and a two-hundred day moving average price of $11.89. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 15.92 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). The business had revenue of $246.92 million during 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 period in the prior year, the firm posted $0.25 EPS. Equities analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a yield of 4.19%. Hope Bancorp's payout ratio is presently 66.67%.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Y. Ha sold 27,104 shares of the stock in a transaction 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 of the company's stock, valued at $6,179,326.98. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Malone sold 10,428 shares of the business's stock in a transaction dated 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 sale, the director now owns 109,991 shares in the company, valued at approximately $1,397,985.61. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,282 shares of company stock worth $541,733. Insiders own 5.29% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a "market perform" rating in a report on Tuesday, July 30th. StockNews.com upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th.

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.