Public Sector Pension investment Board decreased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 28.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,585 shares of the financial services provider’s stock after selling 26,500 shares during the period. Public Sector Pension investment Board’s holdings in Hope Bancorp were worth $1,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. First Interstate Bank raised its stake in Hope Bancorp by 254.3% in the 2nd quarter. First Interstate Bank now owns 6,395 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 4,590 shares during the last quarter. Bank of Montreal Can raised its stake in Hope Bancorp by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 122 shares during the last quarter. Riverhead Capital Management LLC raised its stake in Hope Bancorp by 100.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock worth $191,000 after acquiring an additional 5,121 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Hope Bancorp by 0.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 55 shares during the last quarter. Finally, Connable Office Inc. purchased a new position in Hope Bancorp in the 2nd quarter worth $196,000. Institutional investors own 79.39% of the company’s stock.

HOPE has been the subject of a number of research analyst reports. DA Davidson restated a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a research note on Monday, September 18th. BidaskClub upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. ValuEngine lowered Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. 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. Finally, FIG Partners lowered Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research note on Wednesday, July 26th. 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 an average target price of $19.67.

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Hope Bancorp, Inc. (NASDAQ HOPE) opened at 17.71 on Friday. The firm’s 50 day moving average price is $16.44 and its 200-day moving average price is $18.18. Hope Bancorp, Inc. has a 1-year low of $15.10 and a 1-year high of $22.99. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 16.17 and a beta of 1.39.

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

In other news, Director Donald Byun sold 101,026 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $16.45, for a total transaction of $1,661,877.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jason K. Kim sold 2,750 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $48,675.00. Following the sale, the executive vice president now 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. 5.20% of the stock is currently owned by corporate insiders.

Hope Bancorp Company 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.

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

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