California Public Employees Retirement System Raises Position in Hope Bancorp, Inc. (HOPE)

California Public Employees Retirement System boosted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 384,130 shares of the financial services provider’s stock after acquiring an additional 8,000 shares during the period. California Public Employees Retirement System owned 0.28% of Hope Bancorp worth $7,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HOPE. BlackRock Inc. grew its stake in Hope Bancorp by 49,191.5% in the 1st quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock valued at $302,299,000 after acquiring an additional 15,737,358 shares during the last quarter. Principal Financial Group Inc. grew its stake in Hope Bancorp by 295.1% in the 2nd quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock valued at $72,381,000 after acquiring an additional 2,898,811 shares during the last quarter. Vanguard Group Inc. grew its stake in Hope Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock valued at $227,477,000 after acquiring an additional 608,014 shares during the last quarter. State Street Corp grew its stake in Hope Bancorp by 9.4% in the 1st quarter. State Street Corp now owns 4,768,202 shares of the financial services provider’s stock valued at $91,409,000 after acquiring an additional 411,326 shares during the last quarter. Finally, LSV Asset Management grew its stake in Hope Bancorp by 114.6% in the 2nd quarter. LSV Asset Management now owns 697,303 shares of the financial services provider’s stock valued at $13,004,000 after acquiring an additional 372,403 shares during the last quarter. 79.39% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the transaction, the executive vice president now owns 70,729 shares of the company’s stock, valued at approximately $1,251,903.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Donald Byun sold 101,026 shares of Hope Bancorp stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $16.45, for a total value of $1,661,877.70. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.50 price objective on shares of Hope Bancorp in a research note on Tuesday, October 3rd. DA Davidson reissued a “buy” rating and issued a $21.00 price objective on shares of Hope Bancorp in a research note on Monday, September 18th. FIG Partners cut shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $20.00 to $17.00 in a research note on Friday, September 15th. ValuEngine cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.42.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.02). The company had revenue of $132.94 million during 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%.

ILLEGAL ACTIVITY WARNING: This report was reported by Stock Observer and is the sole property of of Stock Observer. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.thestockobserver.com/2017/10/13/california-public-employees-retirement-system-raises-position-in-hope-bancorp-inc-hope.html.

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.

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

Receive News & Ratings for Hope Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply