Wellington Management Group LLP Boosts Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Wellington Management Group LLP lifted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 30.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,553,508 shares of the financial services provider's stock after purchasing an additional 1,054,124 shares during the period. Wellington Management Group LLP owned about 3.77% of Hope Bancorp worth $57,192,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HOPE. Assenagon Asset Management S.A. increased its position 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 worth $25,065,000 after purchasing an additional 1,632,384 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of Hope Bancorp by 800.0% during the second quarter. Jupiter Asset Management Ltd. now owns 529,195 shares of the financial services provider's stock valued at $5,684,000 after acquiring an additional 470,394 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of 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. Dimensional Fund Advisors LP raised its position in shares of Hope Bancorp by 3.1% in 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 purchasing an additional 218,302 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Hope Bancorp by 82.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 389,706 shares of the financial services provider's stock worth $4,186,000 after purchasing an additional 175,788 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Transactions at Hope Bancorp

In other news, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction on Thursday, November 7th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Angelee Harris sold 3,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the sale, the executive vice president now directly owns 19,795 shares of the company's stock, valued at $280,297.20. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,224 shares of company stock valued at $1,737,873. Corporate insiders own 5.29% of the company's stock.

Hope Bancorp Stock Performance

NASDAQ:HOPE traded down $0.22 during trading hours on Thursday, reaching $13.27. The company had a trading volume of 213,998 shares, compared to its average volume of 715,012. The business's 50 day moving average price is $13.15 and its 200-day moving average price is $12.19. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53. The firm has a market cap of $1.60 billion, a PE ratio of 16.06 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted 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). Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. The company had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. Research analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Thursday, November 7th. Hope Bancorp's payout ratio is 66.67%.

Analyst Upgrades and Downgrades

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

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.