American International Group Inc. Trims Position in Hope Bancorp Inc (HOPE)
American International Group Inc. decreased its stake in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,733 shares of the financial services provider’s stock after selling 2,049 shares during the period. American International Group Inc. owned 0.13% of Hope Bancorp worth $2,025,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Hope Bancorp by 7.1% during the 4th 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. Neuburgh Advisers LLC increased its stake in Hope Bancorp by 7.0% during the 4th quarter. Neuburgh Advisers LLC now owns 20,768 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 1,364 shares in the last quarter. Flinton Capital Management LLC increased its stake in Hope Bancorp by 7.0% during the 4th quarter. Flinton Capital Management LLC now owns 32,096 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 2,108 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Hope Bancorp by 8.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 168,289 shares of the financial services provider’s stock worth $1,842,000 after purchasing an additional 13,082 shares in the last quarter. Finally, HAP Trading LLC bought a new stake in Hope Bancorp during the 4th quarter worth approximately $326,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine cut Hope Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Hope Bancorp presently has a consensus rating of “Hold” and an average price target of $16.50.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 22nd. The financial services provider reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $133.51 million during the quarter, compared to analysts’ expectations of $136.14 million. Hope Bancorp had a net margin of 26.69% and a return on equity of 9.92%. During the same period last year, the business earned $0.32 EPS. As a group, sell-side analysts expect that Hope Bancorp Inc will post 1.49 EPS for the current fiscal year.
In other news, EVP Peter Koh sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $14.92, for a total value of $89,520.00. Following the completion of the sale, the executive vice president now owns 54,687 shares of the company’s stock, valued at approximately $815,930.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jason K. Kim sold 4,750 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $14.71, for a total value of $69,872.50. The disclosure for this sale can be found here. 5.06% of the stock is owned by company insiders.
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About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily 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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