State Street Corp Buys 112,824 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

State Street Corp lifted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,152,656 shares of the financial services provider's stock after purchasing an additional 112,824 shares during the quarter. State Street Corp owned 5.10% of Hope Bancorp worth $77,277,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in Hope Bancorp by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,319,095 shares of the financial services provider's stock valued at $78,605,000 after buying an additional 218,302 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hope Bancorp by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider's stock valued at $29,468,000 after acquiring an additional 33,689 shares in the last quarter. American Century Companies Inc. grew its stake in Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider's stock valued at $21,488,000 after acquiring an additional 296,469 shares in the last quarter. Principal Financial Group Inc. increased its holdings 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 worth $8,140,000 after acquiring an additional 53,587 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in Hope Bancorp by 800.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider's stock worth $5,684,000 after purchasing an additional 470,394 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the sale, the executive vice president now owns 19,795 shares of the company's stock, valued at $280,297.20. This 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 through the SEC website. Also, Director Steven Koh sold 96,620 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the transaction, the director now owns 3,167,023 shares in the company, valued at $42,216,416.59. The trade was a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,224 shares of company stock worth $1,737,873 over the last 90 days. Corporate insiders own 5.29% of the company's stock.

Analysts Set New Price Targets

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

Hope Bancorp Price Performance

Shares of HOPE traded down $0.72 during trading hours on Wednesday, reaching $12.23. 992,562 shares of the company's stock traded hands, compared to its average volume of 719,617. 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 firm's 50 day simple moving average is $13.22 and its 200-day simple moving average is $12.29. The stock has a market cap of $1.48 billion, a PE ratio of 14.56 and a beta of 1.15. 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 announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities analysts expect that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors 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 dividend on an annualized basis and a yield of 4.58%. Hope Bancorp's dividend payout ratio is presently 66.67%.

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.