Rep. Jefferson Shreve Sells Off Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Representative Jefferson Shreve (R-Indiana) recently sold shares of Hope Bancorp, Inc. NASDAQ: HOPE. In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Hope Bancorp stock on February 24th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 - $50,000 in shares of RTX NYSE: RTX on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Royal Gold NASDAQ: RGLD on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of QUALCOMM NASDAQ: QCOM on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 2/24/2025.
• Sold $15,001 - $50,000 in shares of Norfolk Southern NYSE: NSC on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of CoStar Group NASDAQ: CSGP on 2/24/2025.
• Purchased $50,001 - $100,000 in shares of AbbVie NYSE: ABBV on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Johnson & Johnson NYSE: JNJ on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of The Cigna Group NYSE: CI on 2/24/2025.
• Purchased $15,001 - $50,000 in shares of Adobe NASDAQ: ADBE on 2/24/2025.

Hope Bancorp Trading Up 2.2 %

Shares of HOPE stock traded up $0.23 during mid-day trading on Friday, reaching $10.49. 657,742 shares of the stock traded hands, compared to its average volume of 674,582. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 12.79 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $11.44 and its two-hundred day simple moving average is $12.36. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.54.

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Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.34%. Hope Bancorp's dividend payout ratio is presently 68.29%.

Analyst Ratings Changes

A number of analysts recently weighed in on HOPE shares. DA Davidson decreased their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Finally, Piper Sandler decreased their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.88.

Insider Activity

In related news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares of the company's stock, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.29% of the company's stock.

Institutional Investors Weigh In On Hope Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its stake in Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Hope Bancorp by 31.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 848 shares during the period. Sterling Capital Management LLC boosted its stake in Hope Bancorp by 819.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after acquiring an additional 3,309 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Hope Bancorp in the third quarter worth $58,000. Finally, KBC Group NV increased its stake in Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 1,901 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.