Dynamic Technology Lab Private Ltd Takes $841,000 Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Dynamic Technology Lab Private Ltd acquired a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 66,931 shares of the financial services provider’s stock, valued at approximately $841,000.

A number of other hedge funds have also bought and sold shares of HOPE. Louisiana State Employees Retirement System grew its stake in shares of Hope Bancorp by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 1,200 shares during the period. CWM LLC grew its position in Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 1,238 shares during the period. Inspire Investing LLC raised its stake in Hope Bancorp by 4.5% during the 2nd quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock valued at $350,000 after buying an additional 1,413 shares during the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Hope Bancorp by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock valued at $912,000 after buying an additional 1,484 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Hope Bancorp by 2.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider’s stock worth $645,000 after buying an additional 1,597 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, EVP Angelee Harris sold 3,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the sale, the executive vice president now directly owns 19,795 shares of the company’s stock, valued at $280,297.20. This represents a 13.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total transaction of $374,848.32. Following the transaction, the director now owns 446,806 shares in the company, valued at approximately $6,179,326.98. This trade represents a 5.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,474 shares of company stock worth $1,739,618. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Down 0.2 %

Shares of HOPE stock opened at $13.77 on Thursday. The company has a 50 day simple moving average of $12.93 and a two-hundred day simple moving average of $11.98. The stock has a market cap of $1.66 billion, a P/E ratio of 16.39 and a beta of 1.13. Hope Bancorp, Inc. has a 12 month low of $9.45 and a 12 month high of $14.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. The company had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. During the same period in the prior year, the business posted $0.25 earnings per share. On average, research analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s dividend payout ratio is 66.67%.

Hope Bancorp 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.