Pinebridge Investments L.P. lessened its stake in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 23.2% during the second quarter, HoldingsChannel reports. The firm owned 111,951 shares of the financial services provider’s stock after selling 33,875 shares during the period. Pinebridge Investments L.P.’s holdings in Hope Bancorp were worth $1,543,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of HOPE. LSV Asset Management lifted its stake in shares of Hope Bancorp by 6.2% during the second quarter. LSV Asset Management now owns 4,447,983 shares of the financial services provider’s stock worth $61,293,000 after purchasing an additional 258,857 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Hope Bancorp during the first quarter worth about $2,843,000. Principal Financial Group Inc. lifted its stake in shares of Hope Bancorp by 4.1% during the first quarter. Principal Financial Group Inc. now owns 4,503,626 shares of the financial services provider’s stock worth $58,909,000 after purchasing an additional 175,913 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Hope Bancorp by 21.8% during the second quarter. Parametric Portfolio Associates LLC now owns 528,913 shares of the financial services provider’s stock worth $7,288,000 after purchasing an additional 94,764 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Hope Bancorp by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 1,410,805 shares of the financial services provider’s stock worth $16,731,000 after purchasing an additional 93,846 shares in the last quarter. Institutional investors own 85.39% of the company’s stock.
In related news, Director Chung Hyun Lee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $13.34, for a total value of $133,400.00. Following the completion of the sale, the director now owns 237,569 shares of the company’s stock, valued at $3,169,170.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Alex Ko sold 13,507 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $14.29, for a total transaction of $193,015.03. Following the completion of the sale, the chief financial officer now directly owns 5,888 shares of the company’s stock, valued at approximately $84,139.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,334 shares of company stock worth $911,368. Insiders own 5.59% of the company’s stock.
Shares of NASDAQ:HOPE traded down $0.19 during trading on Tuesday, hitting $14.62. The company’s stock had a trading volume of 2,241 shares, compared to its average volume of 416,550. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.03 and a current ratio of 1.03. Hope Bancorp Inc has a fifty-two week low of $11.37 and a fifty-two week high of $17.16. The stock’s 50-day moving average price is $13.81 and its two-hundred day moving average price is $13.75. The company has a market capitalization of $1.88 billion, a PE ratio of 10.12, a PEG ratio of 1.40 and a beta of 1.53.
Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). Hope Bancorp had a return on equity of 9.12% and a net margin of 23.98%. The business had revenue of $129.51 million during the quarter, compared to analyst estimates of $133.30 million. During the same quarter last year, the firm posted $0.36 EPS. On average, equities analysts predict that Hope Bancorp Inc will post 1.33 earnings per share for the current fiscal year.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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