Hotchkis & Wiley Capital Management LLC Trims Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 6.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,059,968 shares of the financial services provider's stock after selling 75,200 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.88% of Hope Bancorp worth $13,313,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. nVerses Capital LLC bought a new stake in shares of Hope Bancorp in the 3rd quarter worth $48,000. Fifth Third Bancorp grew its stake in shares of Hope Bancorp by 149.5% in the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider's stock worth $57,000 after acquiring an additional 3,163 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Hope Bancorp in the 3rd quarter worth $58,000. Choreo LLC bought a new stake in shares of Hope Bancorp in the 2nd quarter worth $108,000. Finally, AE Wealth Management LLC bought a new stake in shares of Hope Bancorp in the 2nd quarter worth $112,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Hope Bancorp Price Performance

HOPE traded up $0.09 on Wednesday, reaching $13.58. The company had a trading volume of 547,741 shares, compared to its average volume of 721,804. The business has a 50 day simple moving average of $13.02 and a 200 day simple moving average of $12.08. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 16.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.53.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly 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 net margin of 9.81% and a return on equity of 5.52%. The business had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp's dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Hope Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st.

Insider Buying and Selling at Hope Bancorp

In other news, 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 in the company, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Angelee Harris sold 3,000 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,974 shares of company stock valued at $1,720,898. 5.29% of the stock is currently owned by company insiders.

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.