Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,868,839 shares of the financial services provider's stock after purchasing an additional 29,899 shares during the period. Vanguard Group Inc. owned approximately 11.49% of Hope Bancorp worth $170,448,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Jane Street Group LLC increased its stake in Hope Bancorp by 66.8% during the 3rd quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider's stock worth $2,147,000 after buying an additional 68,460 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Hope Bancorp by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider's stock valued at $11,218,000 after acquiring an additional 95,570 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of 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 valued at $12,968,000 after acquiring an additional 337,599 shares in the last quarter. Barclays PLC lifted its stake in shares of Hope Bancorp by 109.9% in the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock worth $3,183,000 after acquiring an additional 132,677 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider's stock worth $35,703,000 after acquiring an additional 48,237 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. DA Davidson lowered their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research note 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.88.

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were 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 of the company's stock, valued at $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.29% of the company's stock.

Hope Bancorp Stock Down 0.7 %

Hope Bancorp stock traded down $0.06 during midday trading on Friday, hitting $9.11. The stock had a trading volume of 1,177,178 shares, compared to its average volume of 785,369. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average price of $10.56 and a 200 day moving average price of $11.95. Hope Bancorp, Inc. has a 12 month low of $8.83 and a 12 month high of $14.54. The stock has a market cap 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 analysts' consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

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

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.