Jane Street Group LLC Purchases 68,460 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Jane Street Group LLC grew its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 66.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,936 shares of the financial services provider's stock after purchasing an additional 68,460 shares during the period. Jane Street Group LLC owned approximately 0.14% of Hope Bancorp worth $2,147,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in HOPE. Wellington Management Group LLP boosted its holdings in Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider's stock worth $57,192,000 after buying an additional 1,054,124 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Hope Bancorp during the 3rd quarter valued at $446,000. State Street Corp boosted its stake in shares of Hope Bancorp by 1.9% during the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider's stock worth $77,277,000 after acquiring an additional 112,824 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Hope Bancorp by 8.5% in the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider's stock worth $147,000 after acquiring an additional 919 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Hope Bancorp during the third quarter worth $151,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Hope Bancorp Trading Up 0.3 %

Hope Bancorp stock traded up $0.04 during midday trading on Tuesday, reaching $12.38. The stock had a trading volume of 267,284 shares, compared to its average volume of 724,092. The firm's fifty day simple moving average is $13.19 and its two-hundred day simple moving average is $12.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. Hope Bancorp, Inc. has a twelve month low of $9.80 and a twelve month high of $14.53. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 14.74 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate 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 last year, the business earned $0.25 EPS. Equities analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 4.52%. Hope Bancorp's dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Daisy Y. Ha sold 27,104 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 446,806 shares in the company, valued at approximately $6,179,326.98. This trade 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 accessible through the SEC website. Also, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the sale, the director now directly owns 3,167,023 shares of the company's stock, valued at approximately $42,216,416.59. The trade was a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,224 shares of company stock worth $1,737,873 in the last 90 days. Company insiders own 5.29% of the company's stock.

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.