Brandywine Global Investment Management LLC boosted its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 41.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 354,270 shares of the financial services provider’s stock after buying an additional 104,055 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.26% of Hope Bancorp worth $6,608,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Hope Bancorp by 49,191.5% during the first quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock worth $302,299,000 after acquiring an additional 15,737,358 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Hope Bancorp by 295.1% in the second quarter. Principal Financial Group Inc. now owns 3,881,006 shares of the financial services provider’s stock worth $72,381,000 after purchasing an additional 2,898,811 shares during the period. Vanguard Group Inc. grew its holdings in Hope Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock worth $227,477,000 after purchasing an additional 608,014 shares during the period. Kennedy Capital Management Inc. grew its holdings in Hope Bancorp by 38.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,633,153 shares of the financial services provider’s stock worth $31,308,000 after purchasing an additional 451,183 shares during the period. Finally, State Street Corp grew its holdings in Hope Bancorp by 9.4% in the first quarter. State Street Corp now owns 4,768,202 shares of the financial services provider’s stock worth $91,409,000 after purchasing an additional 411,326 shares during the period. Institutional investors and hedge funds own 79.39% of the company’s stock.

In other Hope Bancorp news, Director Donald Byun sold 101,026 shares of Hope Bancorp stock in a transaction on Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason K. Kim sold 2,750 shares of Hope Bancorp stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at approximately $1,251,903.30. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Shares of Hope Bancorp, Inc. (NASDAQ HOPE) opened at 18.11 on Wednesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 16.54 and a beta of 1.41. The company has a 50-day moving average price of $16.42 and a 200-day moving average price of $17.92. Hope Bancorp, Inc. has a 52-week low of $15.10 and a 52-week high of $22.99.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. The company had revenue of $132.94 million during the quarter, compared to analysts’ expectations of $136.80 million. On average, equities analysts anticipate that Hope Bancorp, Inc. will post $1.20 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. FIG Partners lowered shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, July 12th. ValuEngine lowered Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Wedbush reaffirmed a “neutral” rating and set a $20.00 price target on shares of Hope Bancorp in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $19.00 price objective on shares of Hope Bancorp in a report on Thursday, September 7th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $19.42.

TRADEMARK VIOLATION WARNING: This article was originally published by Watch List News and is the property of of Watch List News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.watchlistnews.com/hope-bancorp-inc-hope-position-boosted-by-brandywine-global-investment-management-llc/1607758.html.

Hope Bancorp Profile

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

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

Receive News & Ratings for Hope Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.