JPMorgan Chase & Co. Buys 95,570 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

JPMorgan Chase & Co. lifted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 12.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 893,172 shares of the financial services provider's stock after acquiring an additional 95,570 shares during the period. JPMorgan Chase & Co. owned 0.74% of Hope Bancorp worth $11,218,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Hope Bancorp by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider's stock worth $8,140,000 after acquiring an additional 53,587 shares during the period. Franklin Resources Inc. lifted its stake in Hope Bancorp by 4.7% during the third quarter. Franklin Resources Inc. now owns 209,884 shares of the financial services provider's stock worth $2,722,000 after purchasing an additional 9,499 shares during the last quarter. Geode Capital Management LLC lifted its stake in Hope Bancorp by 1.7% during 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 purchasing an additional 48,237 shares during the last quarter. Barclays PLC lifted its stake in Hope Bancorp by 109.9% in the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock valued at $3,183,000 after buying an additional 132,677 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Hope Bancorp by 66.8% in the third quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider's stock valued at $2,147,000 after buying an additional 68,460 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Angelee Harris sold 3,000 shares of Hope Bancorp 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 completion of the transaction, the executive vice president now owns 19,795 shares of the company's stock, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Koh sold 96,620 shares of Hope Bancorp stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the transaction, the director now directly owns 3,167,023 shares of the company's stock, valued at $42,216,416.59. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,224 shares of company stock worth $1,737,873. Corporate insiders own 5.29% of the company's stock.

Analyst Ratings Changes

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

Hope Bancorp Price Performance

Shares of Hope Bancorp stock traded up $0.05 during midday trading on Monday, reaching $11.45. The company had a trading volume of 595,137 shares, compared to its average volume of 576,991. The stock has a fifty day simple moving average of $12.99 and a 200 day simple moving average of $12.55. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.63 and a beta of 1.16. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced 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 company had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. During the same quarter last year, the company posted $0.25 EPS. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 4.89%. Hope Bancorp's dividend payout ratio is 66.67%.

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.