Ameriprise Financial Inc. lowered its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,276,794 shares of the financial services provider’s stock after selling 32,101 shares during the quarter. Ameriprise Financial Inc. owned 1.68% of Hope Bancorp worth $42,462,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. First Interstate Bank grew its stake in shares of Hope Bancorp by 254.3% in the 2nd quarter. First Interstate Bank now owns 6,395 shares of the financial services provider’s stock worth $119,000 after buying an additional 4,590 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Hope Bancorp by 100.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock worth $191,000 after buying an additional 5,121 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Hope Bancorp by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock worth $191,000 after buying an additional 122 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Hope Bancorp by 0.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock worth $192,000 after buying an additional 55 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its holdings in shares of Hope Bancorp by 1.2% in the 1st quarter. 1st Global Advisors Inc. now owns 10,429 shares of the financial services provider’s stock worth $200,000 after buying an additional 122 shares during the last quarter. Institutional investors and hedge funds own 79.39% of the company’s stock.

Hope Bancorp, Inc. (NASDAQ HOPE) opened at 16.71 on Friday. The firm’s 50-day moving average is $16.44 and its 200 day moving average is $18.18. Hope Bancorp, Inc. has a 1-year low of $15.10 and a 1-year high of $22.99. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 15.26 and a beta of 1.39.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). The company had revenue of $132.94 million for the quarter, compared to analysts’ expectations of $136.80 million. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. Equities analysts anticipate that Hope Bancorp, Inc. will post $1.20 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. FIG Partners cut shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Wednesday, July 12th. ValuEngine lowered Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Piper Jaffray Companies dropped their price target on Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, May 30th. Finally, Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of Hope Bancorp in a research note on Tuesday, June 27th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.67.

In other Hope Bancorp news, EVP Jason K. Kim sold 2,750 shares of Hope Bancorp stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $17.70, for a total transaction of $48,675.00. Following the transaction, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at $1,251,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald Byun sold 101,026 shares of Hope Bancorp stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $16.45, for a total transaction of $1,661,877.70. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

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Hope Bancorp Company Profile

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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