BNP Paribas Financial Markets Lowers Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

BNP Paribas Financial Markets lessened its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 47.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,975 shares of the financial services provider's stock after selling 71,796 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of Hope Bancorp worth $992,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Louisiana State Employees Retirement System raised its holdings in shares of 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 valued at $652,000 after acquiring an additional 1,200 shares in the last quarter. CWM LLC raised 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 acquiring an additional 1,238 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of 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 acquiring an additional 1,413 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in 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 purchasing an additional 1,484 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Hope Bancorp by 2.7% in the second 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. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a report on Friday, December 6th.

Insider Transactions at Hope Bancorp

In related news, EVP Angelee Harris sold 3,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the sale, the executive vice president now owns 19,795 shares in the company, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven Koh sold 96,620 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the sale, the director now owns 3,167,023 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 129,224 shares of company stock valued at $1,737,873. Insiders own 5.29% of the company's stock.

Hope Bancorp Stock Up 1.0 %

HOPE traded up $0.13 during trading on Wednesday, reaching $13.49. The stock had a trading volume of 797,745 shares, compared to its average volume of 717,050. The stock's 50 day moving average is $13.12 and its two-hundred day moving average is $12.18. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.90 and a beta of 1.15. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.53.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its earnings results 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). Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. The company had revenue of $246.92 million during the quarter, compared to analysts' expectations of $121.67 million. During the same period in the prior year, the company posted $0.25 earnings per share. As a group, analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.15%. Hope Bancorp's dividend payout ratio is currently 66.67%.

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.