Hope Bancorp, Inc. $HOPE Stake Lessened by Susquehanna International Group LLP

Susquehanna International Group LLP trimmed its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 86.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,616 shares of the financial services provider’s stock after selling 86,638 shares during the period. Susquehanna International Group LLP’s holdings in Hope Bancorp were worth $186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HOPE. Royal Bank of Canada grew its holdings in shares of Hope Bancorp by 91.5% during the 1st quarter. Royal Bank of Canada now owns 32,828 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 15,687 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hope Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,936 shares of the financial services provider’s stock valued at $722,000 after purchasing an additional 3,005 shares during the last quarter. Millennium Management LLC grew its stake in Hope Bancorp by 147.1% in the first quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider’s stock valued at $5,153,000 after purchasing an additional 292,994 shares in the last quarter. Caxton Associates LLP acquired a new position in Hope Bancorp in the 1st quarter worth about $297,000. Finally, Jane Street Group LLC increased its position in Hope Bancorp by 676.8% in the 1st quarter. Jane Street Group LLC now owns 227,116 shares of the financial services provider’s stock worth $2,378,000 after purchasing an additional 197,877 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity at Hope Bancorp

In related news, Director Daisy Y. Ha sold 26,995 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $14.24, for a total transaction of $384,408.80. Following the completion of the transaction, the director owned 346,120 shares of the company’s stock, valued at approximately $4,928,748.80. The trade was a 7.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HOPE shares. Keefe, Bruyette & Woods lifted their price target on Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a report on Monday, August 3rd. DA Davidson boosted their price target on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings upgraded Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $13.96 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The company has a fifty day simple moving average of $13.84 and a 200 day simple moving average of $12.67. The company has a market cap of $1.78 billion, a P/E ratio of 13.96 and a beta of 0.83. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.59.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping the consensus estimate of $0.26 by $0.01. The firm had revenue of $147.82 million for the quarter, compared to the consensus estimate of $146.50 million. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. During the same quarter last year, the firm posted ($0.22) EPS. On average, sell-side analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were paid a $0.14 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.0%. Hope Bancorp’s payout ratio is presently 56.00%.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.