Hope Bancorp, Inc. $HOPE Shares Purchased by Inspire Investing LLC

Inspire Investing LLC increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,027 shares of the financial services provider’s stock after acquiring an additional 3,209 shares during the period. Inspire Investing LLC’s holdings in Hope Bancorp were worth $387,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Maryland State Retirement & Pension System increased its holdings in shares of Hope Bancorp by 4.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 36,926 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 1,700 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Hope Bancorp by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 74,284 shares of the financial services provider’s stock worth $797,000 after acquiring an additional 1,448 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Hope Bancorp by 12.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 75,458 shares of the financial services provider’s stock worth $808,000 after acquiring an additional 8,548 shares during the period. GAMMA Investing LLC increased its holdings in shares of Hope Bancorp by 29.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 1,211 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Hope Bancorp by 318.8% in the 1st quarter. Voya Investment Management LLC now owns 420,501 shares of the financial services provider’s stock worth $4,403,000 after acquiring an additional 320,091 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Angelee Harris sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $11.02, for a total transaction of $38,570.00. Following the completion of the transaction, the executive vice president owned 24,241 shares in the company, valued at approximately $267,135.82. This trade represents a 12.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have sold 7,102 shares of company stock worth $76,068. Company insiders own 5.16% of the company’s stock.

Hope Bancorp Stock Performance

Shares of HOPE opened at $10.07 on Friday. The firm has a 50-day moving average price of $10.81 and a 200 day moving average price of $10.47. The firm has a market capitalization of $1.29 billion, a PE ratio of 28.77 and a beta of 0.92. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.43). The company had revenue of $94.58 million during the quarter, compared to the consensus estimate of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. During the same quarter in the prior year, the company earned $0.22 EPS. On average, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.6%. Hope Bancorp’s dividend payout ratio (DPR) is 160.00%.

Wall Street Analysts Forecast Growth

HOPE has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hope Bancorp in a report on Wednesday, October 8th. Zacks Research raised shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.25.

About Hope Bancorp

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.