JPMorgan Chase & Co. Increases Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

JPMorgan Chase & Co. boosted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,052,068 shares of the financial services provider’s stock after purchasing an additional 158,896 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hope Bancorp were worth $12,930,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in shares of Hope Bancorp by 66.8% during the 3rd quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock valued at $2,147,000 after acquiring an additional 68,460 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Hope Bancorp by 47.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after purchasing an additional 337,599 shares during the period. Barclays PLC grew its holdings in Hope Bancorp by 109.9% in the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock valued at $3,183,000 after purchasing an additional 132,677 shares during the period. Geode Capital Management LLC increased its position in Hope Bancorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after purchasing an additional 48,237 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Hope Bancorp by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider’s stock worth $22,100,000 after purchasing an additional 240,192 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

HOPE has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. DA Davidson lowered their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.88.

Hope Bancorp Price Performance

Hope Bancorp stock opened at $9.11 on Monday. The firm has a fifty day moving average of $10.56 and a 200-day moving average of $11.95. Hope Bancorp, Inc. has a 52-week low of $8.83 and a 52-week high of $14.54. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.10 billion, a P/E ratio of 11.11 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. As a group, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

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.