Glenmede Trust Co. NA raised its position in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,953,008 shares of the financial services provider’s stock after acquiring an additional 70,163 shares during the period. Glenmede Trust Co. NA owned approximately 1.50% of Hope Bancorp worth $34,822,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Hope Bancorp by 14.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 72,500 shares of the financial services provider’s stock valued at $1,293,000 after buying an additional 9,200 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Hope Bancorp by 11.7% in the second quarter. Macquarie Group Ltd. now owns 2,450,766 shares of the financial services provider’s stock valued at $43,697,000 after buying an additional 256,255 shares during the period. Raymond James & Associates boosted its stake in shares of Hope Bancorp by 25.3% in the second quarter. Raymond James & Associates now owns 273,927 shares of the financial services provider’s stock valued at $4,884,000 after buying an additional 55,238 shares during the period. Flinton Capital Management LLC boosted its stake in shares of Hope Bancorp by 14.2% in the second quarter. Flinton Capital Management LLC now owns 27,098 shares of the financial services provider’s stock valued at $483,000 after buying an additional 3,366 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Hope Bancorp by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,213,335 shares of the financial services provider’s stock valued at $164,275,000 after buying an additional 593,266 shares during the period. Institutional investors own 90.10% of the company’s stock.

Several brokerages recently issued reports on HOPE. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. ValuEngine cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, June 11th. DA Davidson cut Hope Bancorp from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research note on Wednesday, May 30th. Finally, Wedbush reiterated a “neutral” rating and issued a $18.00 price target (down from $19.00) on shares of Hope Bancorp in a research note on Monday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.50.

NASDAQ HOPE opened at $17.05 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. Hope Bancorp Inc has a fifty-two week low of $16.49 and a fifty-two week high of $19.86. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. The business had revenue of $138.09 million for the quarter, compared to the consensus estimate of $139.60 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. analysts predict that Hope Bancorp Inc will post 1.47 EPS for the current fiscal year.

In other Hope Bancorp news, EVP David Lee Song sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $17.75, for a total transaction of $88,750.00. Following the completion of the sale, the executive vice president now directly owns 4,023 shares in the company, valued at $71,408.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donald Byun sold 40,456 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total value of $721,735.04. Following the sale, the director now owns 35,170 shares of the company’s stock, valued at $627,432.80. The disclosure for this sale can be found here. 5.06% of the stock is owned by corporate insiders.

Hope Bancorp Profile

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

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