Thrivent Financial for Lutherans Reduces Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Thrivent Financial for Lutherans decreased its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 27.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 182,593 shares of the financial services provider's stock after selling 70,529 shares during the period. Thrivent Financial for Lutherans owned approximately 0.15% of Hope Bancorp worth $2,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cibc World Markets Corp bought a new stake in shares of Hope Bancorp during the 4th quarter valued at about $133,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Hope Bancorp during the fourth quarter valued at approximately $910,000. Sequoia Financial Advisors LLC grew its stake in Hope Bancorp by 21.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 16,432 shares of the financial services provider's stock worth $202,000 after buying an additional 2,922 shares in the last quarter. AlphaQuest LLC grew its stake in Hope Bancorp by 2,857,750.0% in the 4th quarter. AlphaQuest LLC now owns 57,157 shares of the financial services provider's stock worth $702,000 after buying an additional 57,155 shares in the last quarter. Finally, Amundi increased its holdings in shares of Hope Bancorp by 174.5% in the 4th quarter. Amundi now owns 58,345 shares of the financial services provider's stock worth $694,000 after buying an additional 37,090 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Trading Up 1.3 %

Hope Bancorp stock traded up $0.13 during mid-day trading on Wednesday, hitting $10.51. The company's stock had a trading volume of 1,240,701 shares, compared to its average volume of 749,528. The business has a 50 day moving average price of $11.00 and a 200-day moving average price of $12.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.54. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 12.82 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. As a group, analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's dividend payout ratio is 68.29%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares of the company's stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.29% of the stock is owned by insiders.

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.