Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 69.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 717,552 shares of the financial services provider's stock after selling 1,616,246 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.59% of Hope Bancorp worth $9,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its position 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 period. CWM LLC boosted its holdings in shares of Hope Bancorp by 15.7% in the third 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 during the period. Inspire Investing LLC grew its position in shares of Hope Bancorp by 4.5% during the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider's stock worth $350,000 after acquiring an additional 1,413 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Hope Bancorp by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 105,134 shares of the financial services provider's stock valued at $1,210,000 after acquiring an additional 1,422 shares during the period. Finally, SummerHaven Investment Management LLC raised its position in Hope Bancorp by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider's stock valued at $912,000 after purchasing an additional 1,484 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HOPE. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, October 14th. Keefe, Bruyette & Woods upped their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a "market perform" rating in a research note on Tuesday, July 30th.

Insider Buying and Selling at Hope Bancorp

In other news, Director David P. Malone sold 10,428 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total value of $132,539.88. Following the completion of the transaction, the director now owns 109,991 shares in the company, valued at $1,397,985.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director David P. Malone sold 10,428 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now owns 109,991 shares of the company's stock, valued at approximately $1,397,985.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jinho Doo sold 10,703 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the completion of the transaction, the director now directly owns 21,538 shares of the company's stock, valued at approximately $267,071.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,831 shares of company stock valued at $323,657. 5.29% of the stock is owned by company insiders.

Hope Bancorp Stock Performance

Shares of HOPE stock traded up $0.06 during mid-day trading on Monday, hitting $12.53. The stock had a trading volume of 1,074,587 shares, compared to its average volume of 764,304. Hope Bancorp, Inc. has a fifty-two week low of $8.51 and a fifty-two week high of $13.59. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The company's 50-day simple moving average is $12.57 and its 200-day simple moving average is $11.58. The firm has a market cap of $1.51 billion, a PE ratio of 14.08 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its earnings results on Monday, July 29th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Hope Bancorp had a return on equity of 5.85% and a net margin of 10.02%. The company had revenue of $116.90 million for the quarter, compared to analysts' expectations of $121.27 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm's quarterly revenue was down 20.9% on a year-over-year basis. Sell-side analysts anticipate that Hope Bancorp, Inc. will post 0.87 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.47%. Hope Bancorp's payout ratio is 62.92%.

Hope Bancorp 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.