Ameriprise Financial Inc. Sells 29,216 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Ameriprise Financial Inc. lowered its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.9% in the 4th quarter, according to 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 quarter. Ameriprise Financial Inc. owned 0.38% of Hope Bancorp worth $5,693,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after buying an additional 848 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,553 shares in the last quarter. Legal & General Group Plc raised its holdings in Hope Bancorp by 0.5% during the 4th quarter. Legal & General Group Plc now owns 339,560 shares of the financial services provider's stock worth $4,173,000 after buying an additional 1,560 shares during the period. KBC Group NV lifted its stake in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,901 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Hope Bancorp by 11.1% in the fourth quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider's stock worth $301,000 after buying an additional 2,443 shares during the period. Institutional investors own 84.00% of the company's stock.

Hope Bancorp Stock Up 0.4%

Hope Bancorp stock traded up $0.04 during mid-day trading on Thursday, hitting $10.16. The company's stock had a trading volume of 522,720 shares, compared to its average volume of 832,770. The firm's 50 day moving average is $9.99 and its 200 day moving average is $11.33. The company has a market cap of $1.30 billion, a PE ratio of 12.39 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 52-week low of $8.83 and a 52-week high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $217.17 million during the quarter, compared to the consensus estimate of $114.97 million. During the same period in the prior year, the business earned $0.23 EPS. On average, analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders 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 dividend yield of 5.51%. The ex-dividend date was Friday, May 2nd. Hope Bancorp's dividend payout ratio (DPR) is presently 71.79%.

Wall Street Analyst Weigh In

HOPE has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

About Hope Bancorp

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.