Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 463,189 shares of the financial services provider's stock after selling 29,216 shares during the period. Ameriprise Financial Inc. owned 0.38% of Hope Bancorp worth $5,693,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HOPE. Barclays PLC boosted its holdings in shares of Hope Bancorp by 109.9% during the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock valued at $3,183,000 after buying an additional 132,677 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hope Bancorp by 15.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock valued at $22,100,000 after buying an additional 240,192 shares in the last quarter. EMC Capital Management boosted its holdings in shares of Hope Bancorp by 1,082.6% during the 4th quarter. EMC Capital Management now owns 29,566 shares of the financial services provider's stock valued at $363,000 after buying an additional 27,066 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hope Bancorp by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 674,643 shares of the financial services provider's stock valued at $8,291,000 after buying an additional 26,548 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Hope Bancorp in the 4th quarter worth about $657,000. Institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. DA Davidson dropped their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, Piper Sandler decreased their price objective on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th.

Hope Bancorp Stock Down 0.7%

HOPE traded down $0.08 on Wednesday, hitting $10.22. The company had a trading volume of 357,313 shares, compared to its average volume of 830,340. The stock has a fifty day moving average price of $10.01 and a 200-day moving average price of $11.36. Hope Bancorp, Inc. has a 12-month low of $8.83 and a 12-month high of $14.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 12.47 and a beta of 0.88.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. The company had revenue of $217.17 million for the quarter, compared to analyst estimates of $114.97 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. Analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend was Friday, May 2nd. Hope Bancorp's dividend payout ratio (DPR) is currently 71.79%.

Hope Bancorp Profile

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.