Assenagon Asset Management S.A. Cuts Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Assenagon Asset Management S.A. reduced its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 83.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,555 shares of the financial services provider's stock after selling 884,596 shares during the quarter. Assenagon Asset Management S.A. owned about 0.14% of Hope Bancorp worth $1,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,553 shares during the period. Sterling Capital Management LLC increased its stake in Hope Bancorp by 819.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 3,309 shares during the period. Cibc World Markets Corp acquired a new position in Hope Bancorp in the fourth quarter valued at $133,000. Algert Global LLC acquired a new position in Hope Bancorp in the fourth quarter valued at $135,000. Finally, Quantinno Capital Management LP increased its stake in Hope Bancorp by 15.2% in the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider's stock valued at $166,000 after purchasing an additional 1,786 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 12th.

Hope Bancorp Stock Performance

NASDAQ HOPE traded up $0.08 during trading on Friday, reaching $10.16. The company's stock had a trading volume of 1,683,166 shares, compared to its average volume of 827,762. Hope Bancorp, Inc. has a twelve month low of $8.83 and a twelve month high of $14.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. The business's fifty day moving average price is $10.09 and its 200-day moving average price is $10.93. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 13.03 and a beta of 0.89.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $217.17 million during the quarter, compared to analysts' expectations of $114.97 million. Hope Bancorp had a net margin of 9.82% and a return on equity of 4.60%. During the same period in the prior year, the company posted $0.23 earnings per share. As a group, analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.56 annualized dividend and a yield of 5.51%. Hope Bancorp's dividend payout ratio is currently 71.79%.

Hope Bancorp Company 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.