66,931 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 66,931 shares of the financial services provider’s stock, valued at approximately $841,000. Dynamic Technology Lab Private Ltd owned 0.06% of Hope Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. increased its stake in shares of Hope Bancorp by 232.7% during 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 buying an additional 1,632,384 shares during the period. Principal Financial Group Inc. boosted its holdings in Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after acquiring an additional 53,587 shares in the last quarter. American Century Companies Inc. increased its position in Hope Bancorp by 17.4% during 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 purchasing an additional 296,469 shares during the period. Denali Advisors LLC raised its holdings in Hope Bancorp by 17.7% in the 2nd 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. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Hope Bancorp in the 2nd quarter worth about $587,000. Institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the sale, the executive vice president now directly owns 19,795 shares in the company, valued at approximately $280,297.20. This trade represents a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the completion of the transaction, the director now owns 3,167,023 shares in the company, valued at approximately $42,216,416.59. This represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,474 shares of company stock worth $1,739,618 in the last 90 days. Insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st.

Hope Bancorp Price Performance

HOPE opened at $13.77 on Thursday. Hope Bancorp, Inc. has a 12-month low of $9.45 and a 12-month high of $14.53. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 16.39 and a beta of 1.13. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $12.93 and a two-hundred day simple moving average of $11.98.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. Research analysts predict that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.07%. Hope Bancorp’s dividend payout ratio is currently 66.67%.

About Hope Bancorp

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.