Assenagon Asset Management S.A. Has $1.79 Million Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Assenagon Asset Management S.A. reduced its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 83.8% in the 1st quarter, according to its most recent disclosure 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 0.14% of Hope Bancorp worth $1,786,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of 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 worth $29,000 after acquiring an additional 1,553 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Hope Bancorp by 819.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after buying an additional 3,309 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Hope Bancorp during the fourth quarter worth about $133,000. Algert Global LLC bought a new position in shares of Hope Bancorp during the fourth quarter worth about $135,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Hope Bancorp by 15.2% during the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider's stock worth $166,000 after buying an additional 1,786 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Stock Up 0.6%

Shares of NASDAQ:HOPE traded up $0.06 during mid-day trading on Thursday, reaching $10.08. 795,893 shares of the stock were exchanged, compared to its average volume of 826,059. The stock's 50 day simple moving average is $10.06 and its 200-day simple moving average is $10.97. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.29 billion, a P/E ratio of 12.92 and a beta of 0.89.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Hope Bancorp had a return on equity of 4.60% and a net margin of 9.82%. The firm had revenue of $217.17 million during the quarter, compared to analysts' expectations of $114.97 million. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given 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 5.56%. Hope Bancorp's dividend payout ratio (DPR) is presently 71.79%.

Wall Street Analysts Forecast Growth

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

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.