Louisiana State Employees Retirement System trimmed its holdings in Hope Bancorp Inc (NASDAQ:HOPE) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,400 shares of the financial services provider’s stock after selling 3,300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Hope Bancorp were worth $880,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Hope Bancorp by 9.0% in the 2nd quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock valued at $328,490,000 after acquiring an additional 1,527,125 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Hope Bancorp by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,213,335 shares of the financial services provider’s stock valued at $164,275,000 after acquiring an additional 593,266 shares during the period. LSV Asset Management increased its holdings in shares of Hope Bancorp by 43.7% in the 2nd quarter. LSV Asset Management now owns 4,071,026 shares of the financial services provider’s stock valued at $72,586,000 after acquiring an additional 1,237,072 shares during the period. Northern Trust Corp increased its holdings in shares of Hope Bancorp by 0.8% in the 2nd quarter. Northern Trust Corp now owns 3,170,038 shares of the financial services provider’s stock valued at $56,523,000 after acquiring an additional 25,887 shares during the period. Finally, Pzena Investment Management LLC increased its holdings in shares of Hope Bancorp by 4.5% in the 2nd quarter. Pzena Investment Management LLC now owns 3,018,616 shares of the financial services provider’s stock valued at $53,822,000 after acquiring an additional 131,235 shares during the period. 89.99% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday. DA Davidson cut their target price on shares of Hope Bancorp to $16.00 and set a “neutral” rating on the stock in a report on Thursday. Sandler O’Neill set a $16.00 target price on shares of Hope Bancorp and gave the company a “hold” rating in a report on Wednesday. ValuEngine cut shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $18.00 target price (down from $19.00) on shares of Hope Bancorp in a report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Hope Bancorp presently has a consensus rating of “Hold” and a consensus target price of $18.25.

In other Hope Bancorp news, EVP David Lee Song sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total transaction of $88,750.00. Following the sale, the executive vice president now directly owns 4,023 shares in the company, valued at approximately $71,408.25. 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 40,456 shares of the business’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total transaction of $721,735.04. Following the sale, the director now owns 35,170 shares in the company, valued at $627,432.80. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.

Shares of HOPE opened at $14.66 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.03 and a current ratio of 0.96. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 10.48, a PEG ratio of 1.01 and a beta of 1.37. Hope Bancorp Inc has a 1 year low of $14.48 and a 1 year high of $19.86.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $141.01 million. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. Hope Bancorp’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.33 EPS. As a group, equities research analysts expect that Hope Bancorp Inc will post 1.47 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 26th will be paid a $0.14 dividend. The ex-dividend date is Thursday, October 25th. This represents a $0.56 annualized dividend and a yield of 3.82%. Hope Bancorp’s dividend payout ratio is currently 45.90%.

About Hope Bancorp

Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.

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

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