Wellington Management Group LLP Sells 229,391 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Wellington Management Group LLP lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,324,117 shares of the financial services provider's stock after selling 229,391 shares during the quarter. Wellington Management Group LLP owned approximately 3.58% of Hope Bancorp worth $53,143,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its position in Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock worth $44,000 after purchasing an additional 848 shares during the period. Quantinno Capital Management LP boosted its position in shares of Hope Bancorp by 8.5% in the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider's stock valued at $147,000 after acquiring an additional 919 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of 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 acquiring an additional 1,553 shares during the period. KBC Group NV boosted its position in shares of 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 acquiring an additional 1,901 shares during the period. Finally, LPL Financial LLC raised its stake in Hope Bancorp by 11.1% in the fourth quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 2,443 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. DA Davidson lowered their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $12.88.

Hope Bancorp Price Performance

Shares of HOPE stock traded down $0.54 during trading hours on Thursday, hitting $9.19. 167,475 shares of the company's stock were exchanged, compared to its average volume of 778,093. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Hope Bancorp, Inc. has a 12-month low of $8.83 and a 12-month high of $14.54. The company has a market capitalization of $1.11 billion, a PE ratio of 11.25 and a beta of 0.96. The business's 50 day simple moving average is $10.66 and its 200-day simple moving average is $12.00.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (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, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's dividend payout ratio is presently 68.29%.

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.