Walleye Capital LLC Buys New Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Walleye Capital LLC bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 55,500 shares of the financial services provider’s stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in Hope Bancorp by 232.7% in the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock valued at $25,065,000 after acquiring an additional 1,632,384 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Hope Bancorp by 9.0% during the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after purchasing an additional 53,587 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Hope Bancorp by 3.7% during the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 1,744 shares in the last quarter. Finally, Denali Advisors LLC lifted its stake in shares of Hope Bancorp by 17.7% during the second quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider’s stock worth $3,763,000 after purchasing an additional 52,700 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Down 0.2 %

Shares of NASDAQ HOPE opened at $13.45 on Friday. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.53. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 16.01 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50-day simple moving average is $13.09 and its 200-day simple moving average is $12.13.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (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 business had revenue of $246.92 million for the quarter, compared to analysts’ expectations of $121.67 million. During the same period in the previous year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday.

Insider Transactions at Hope Bancorp

In related news, Director Steven Koh sold 96,620 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value of $1,287,944.60. Following the completion of the sale, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daisy Y. Ha sold 27,104 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the completion of the sale, the director now directly owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,224 shares of company stock valued at $1,737,873. 5.29% of the stock is currently owned by insiders.

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.