Quantinno Capital Management LP Increases Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Quantinno Capital Management LP raised its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 8.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,729 shares of the financial services provider’s stock after acquiring an additional 919 shares during the quarter. Quantinno Capital Management LP’s holdings in Hope Bancorp were worth $147,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HOPE. Principal Financial Group Inc. grew its holdings in Hope Bancorp by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after purchasing an additional 53,587 shares in the last quarter. American Century Companies Inc. boosted its position in Hope Bancorp by 17.4% in the 2nd quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock valued at $21,488,000 after buying an additional 296,469 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Hope Bancorp during the third quarter valued at about $697,000. Quantbot Technologies LP purchased a new stake in shares of Hope Bancorp during the third quarter worth about $58,000. Finally, Intech Investment Management LLC lifted its stake in shares of Hope Bancorp by 3.7% in the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 27,104 shares of the firm’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 transaction, the director now owns 446,806 shares of the company’s stock, valued at $6,179,326.98. This trade represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total value of $1,287,944.60. Following the transaction, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,224 shares of company stock worth $1,737,873. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Trading Down 3.6 %

NASDAQ HOPE opened at $12.95 on Wednesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 15.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.53. The company’s fifty day moving average price is $13.22 and its two-hundred day moving average price is $12.29.

Hope Bancorp (NASDAQ:HOPE) last issued 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). The company had revenue of $246.92 million during the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. During the same quarter last year, the company posted $0.25 EPS. As a group, research analysts predict that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 4.32%. Hope Bancorp’s 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.