Public Sector Pension Investment Board Trims Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Public Sector Pension Investment Board lessened its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 256,141 shares of the financial services provider’s stock after selling 9,200 shares during the period. Public Sector Pension Investment Board’s holdings in Hope Bancorp were worth $3,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HOPE. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 218,302 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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 buying an additional 33,689 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after acquiring an additional 1,632,384 shares in the last quarter. American Century Companies Inc. lifted its stake in Hope Bancorp by 17.4% in the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after acquiring an additional 296,469 shares during the period. Finally, Principal Financial Group Inc. grew 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 in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Price Performance

HOPE opened at $13.49 on Wednesday. The firm has a market capitalization of $1.63 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. The business’s 50-day moving average is $13.00 and its two-hundred day moving average is $12.06. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter last year, the firm earned $0.25 EPS. Research analysts anticipate that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given 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 dividend yield of 4.15%. Hope Bancorp’s payout ratio is 66.67%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st.

Insider Buying and Selling

In other Hope Bancorp news, Director Daisy Y. Ha sold 27,104 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the completion of the transaction, the director now owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This trade represents a 5.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Koh sold 96,620 shares of the business’s stock in a transaction 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 sale, the director now directly owns 3,167,023 shares in the company, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,974 shares of company stock worth $1,720,898 in the last ninety days. 5.29% of the stock is owned by insiders.

About Hope Bancorp

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.