O Shaughnessy Asset Management LLC Has $2.28 Million Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

O Shaughnessy Asset Management LLC lowered its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 197,933 shares of the financial services provider’s stock after selling 35,052 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.16% of Hope Bancorp worth $2,278,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Hope Bancorp during the fourth quarter valued at $9,960,000. Wellington Management Group LLP acquired a new position in shares of Hope Bancorp during the fourth quarter valued at $2,977,000. Hsbc Holdings PLC lifted its stake in shares of Hope Bancorp by 455.8% during the fourth quarter. Hsbc Holdings PLC now owns 220,046 shares of the financial services provider’s stock valued at $2,683,000 after acquiring an additional 180,458 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Hope Bancorp by 28.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock valued at $9,345,000 after acquiring an additional 170,985 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Hope Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 13,730,473 shares of the financial services provider’s stock valued at $165,864,000 after purchasing an additional 115,826 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Down 2.1 %

Shares of Hope Bancorp stock opened at $12.85 on Thursday. Hope Bancorp, Inc. has a 1 year low of $8.15 and a 1 year high of $13.26. The business has a 50-day moving average of $10.78 and a two-hundred day moving average of $10.95. The company has a market capitalization of $1.55 billion, a P/E ratio of 12.85 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue was down 14.9% compared to the same quarter last year. As a group, equities analysts predict that Hope Bancorp, Inc. will post 0.95 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were issued a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.56 annualized dividend and a dividend yield of 4.36%. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on HOPE shares. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective for the company in a report on Tuesday, April 30th. Wedbush dropped their price objective on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.83.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Angelee Harris sold 4,200 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total value of $44,856.00. Following the completion of the sale, the executive vice president now directly owns 18,527 shares in the company, valued at $197,868.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Steven Koh sold 3,857 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $9.94, for a total transaction of $38,338.58. Following the completion of the transaction, the director now directly owns 3,294,186 shares in the company, valued at $32,744,208.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Angelee Harris sold 4,200 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total value of $44,856.00. Following the transaction, the executive vice president now owns 18,527 shares of the company’s stock, valued at $197,868.36. The disclosure for this sale can be found here. Corporate insiders own 5.29% of the company’s stock.

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.