Martingale Asset Management L P Makes New $713,000 Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Martingale Asset Management L P purchased a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 56,785 shares of the financial services provider's stock, valued at approximately $713,000.

A number of other hedge funds also recently made changes to their positions in the stock. Louisiana State Employees Retirement System boosted its holdings in shares of Hope Bancorp by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider's stock valued at $652,000 after purchasing an additional 1,200 shares during the last quarter. CWM LLC lifted its holdings in shares of Hope Bancorp by 15.7% during the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider's stock valued at $114,000 after acquiring an additional 1,238 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Hope Bancorp by 4.5% during the 2nd quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider's stock valued at $350,000 after acquiring an additional 1,413 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Hope Bancorp by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider's stock valued at $912,000 after acquiring an additional 1,484 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Hope Bancorp by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider's stock valued at $645,000 after acquiring an additional 1,597 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Angelee Harris sold 3,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares in the company, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daisy Y. Ha sold 27,104 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 446,806 shares of the company's stock, valued at $6,179,326.98. The trade was a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,474 shares of company stock worth $1,739,618. 5.29% of the stock is owned by company insiders.

Hope Bancorp Stock Down 1.5 %

HOPE stock traded down $0.21 during trading on Tuesday, reaching $13.49. The stock had a trading volume of 444,809 shares, compared to its average volume of 722,552. 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. The company has a market capitalization of $1.63 billion, a P/E ratio of 16.06 and a beta of 1.15. The firm has a fifty day moving average price of $13.00 and a 200 day moving average price of $12.06.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share 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 period in the prior year, the company earned $0.25 EPS. On average, equities analysts anticipate that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 4.15%. Hope Bancorp's payout ratio is currently 66.67%.

Analysts Set New Price Targets

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

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.