Russell Investments Group Ltd. Has $2.02 Million Stake in Hope Bancorp Inc (NASDAQ:HOPE)

Russell Investments Group Ltd. grew its position in Hope Bancorp Inc (NASDAQ:HOPE) by 14.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,460 shares of the financial services provider’s stock after purchasing an additional 18,426 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Hope Bancorp worth $2,021,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HOPE. Geode Capital Management LLC grew its position in shares of Hope Bancorp by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 1,410,805 shares of the financial services provider’s stock valued at $16,731,000 after purchasing an additional 93,846 shares during the last quarter. Texas Permanent School Fund grew its position in shares of Hope Bancorp by 2.0% in the first quarter. Texas Permanent School Fund now owns 81,689 shares of the financial services provider’s stock valued at $1,068,000 after purchasing an additional 1,632 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Hope Bancorp by 20.2% in the first quarter. Victory Capital Management Inc. now owns 98,346 shares of the financial services provider’s stock valued at $1,286,000 after purchasing an additional 16,517 shares during the last quarter. American International Group Inc. grew its position in shares of Hope Bancorp by 16.7% in the first quarter. American International Group Inc. now owns 199,328 shares of the financial services provider’s stock valued at $2,607,000 after purchasing an additional 28,595 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in shares of Hope Bancorp in the first quarter valued at approximately $200,000. 85.39% of the stock is currently owned by institutional investors.

NASDAQ:HOPE traded up $0.21 during trading hours on Thursday, reaching $14.86. 3,342 shares of the company were exchanged, compared to its average volume of 425,541. The company has a market capitalization of $1.88 billion, a P/E ratio of 10.32, a P/E/G ratio of 1.40 and a beta of 1.53. Hope Bancorp Inc has a 1-year low of $11.37 and a 1-year high of $17.16. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day moving average of $13.81 and a 200 day moving average of $13.75.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, July 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The company had revenue of $129.51 million for the quarter, compared to analyst estimates of $133.30 million. Hope Bancorp had a return on equity of 9.12% and a net margin of 23.98%. During the same period in the prior year, the company earned $0.36 EPS. As a group, equities research analysts anticipate that Hope Bancorp Inc will post 1.33 earnings per share for the current fiscal year.

In other Hope Bancorp news, Director Chung Hyun Lee sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $13.34, for a total transaction of $133,400.00. Following the completion of the sale, the director now directly owns 237,569 shares in the company, valued at $3,169,170.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alex Ko sold 13,507 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $14.29, for a total value of $193,015.03. Following the sale, the chief financial officer now owns 5,888 shares of the company’s stock, valued at $84,139.52. The disclosure for this sale can be found here. Insiders have sold 66,334 shares of company stock worth $911,368 in the last three months. 5.59% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, July 20th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Hope Bancorp Profile

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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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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