Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC trimmed its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,809,260 shares of the financial services provider's stock after selling 32,796 shares during the quarter. Geode Capital Management LLC owned 2.33% of Hope Bancorp worth $34,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in HOPE. Norges Bank purchased a new stake in shares of Hope Bancorp during the fourth quarter valued at $4,001,000. Loomis Sayles & Co. L P lifted its position in Hope Bancorp by 2.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 776,103 shares of the financial services provider's stock worth $9,538,000 after acquiring an additional 15,410 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Hope Bancorp by 17.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,052,068 shares of the financial services provider's stock valued at $12,930,000 after purchasing an additional 158,896 shares during the period. WINTON GROUP Ltd increased its stake in Hope Bancorp by 80.9% during the fourth quarter. WINTON GROUP Ltd now owns 85,352 shares of the financial services provider's stock worth $1,049,000 after acquiring an additional 38,180 shares during the last quarter. Finally, LPL Financial LLC raised its position in Hope Bancorp by 11.1% in the fourth quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 2,443 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on HOPE. Piper Sandler decreased their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. DA Davidson lowered their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.88.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.29% of the stock is owned by company insiders.

Hope Bancorp Stock Up 1.3 %

NASDAQ HOPE traded up $0.12 during trading on Friday, reaching $9.52. 1,027,352 shares of the company's stock were exchanged, compared to its average volume of 796,387. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a 1 year low of $8.83 and a 1 year high of $14.54. The stock has a market cap of $1.15 billion, a P/E ratio of 11.61 and a beta of 0.96. The company has a 50 day moving average price of $10.34 and a two-hundred day moving average price of $11.85.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.88%. The ex-dividend date was Thursday, February 6th. Hope Bancorp's dividend payout ratio (DPR) is 68.29%.

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.