Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 51.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,492 shares of the financial services provider's stock after selling 45,238 shares during the period. PDT Partners LLC's holdings in Hope Bancorp were worth $534,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HOPE. Assenagon Asset Management S.A. raised its stake in shares of Hope Bancorp by 232.7% during the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider's stock valued at $25,065,000 after acquiring an additional 1,632,384 shares in the last quarter. Principal Financial Group Inc. raised its position in 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 valued at $8,140,000 after purchasing an additional 53,587 shares in the last quarter. American Century Companies Inc. raised its position in Hope Bancorp by 17.4% during the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider's stock valued at $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Denali Advisors LLC lifted its holdings in shares of Hope Bancorp by 17.7% in the 2nd quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider's stock worth $3,763,000 after buying an additional 52,700 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Hope Bancorp during the 2nd quarter worth $587,000. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Stock Down 1.5 %

NASDAQ:HOPE traded down $0.21 during trading hours on Tuesday, reaching $13.49. The company's stock had a trading volume of 444,809 shares, compared to its average volume of 722,552. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $1.63 billion, a P/E ratio of 16.06 and a beta of 1.15. The stock has a 50 day moving average price of $13.00 and a two-hundred day moving average price of $12.06. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.53.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued 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). The company had revenue of $246.92 million for the quarter, compared to analysts' expectations of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter last year, the company earned $0.25 earnings per share. Equities analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors 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 dividend yield of 4.15%. Hope Bancorp's dividend payout ratio (DPR) is presently 66.67%.

Insider Activity at Hope Bancorp

In related 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 of the company's stock, valued at $280,297.20. This trade represents a 13.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daisy Y. Ha sold 27,104 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the transaction, the director now owns 446,806 shares in the company, valued at $6,179,326.98. The trade was a 5.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,474 shares of company stock valued at $1,739,618 over the last 90 days. Insiders own 5.29% of the company's stock.

Analyst Upgrades and Downgrades

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

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.