Hope Bancorp, Inc. $HOPE Holdings Decreased by Susquehanna International Group LLP

Key Points

• Susquehanna International Group cut its Hope Bancorp stake by 86.4% in the second quarter, selling 86,638 shares and retaining 13,616 shares valued at approximately $186,000. Institutional investors overall own 84% of the company.
• Hope Bancorp reported quarterly EPS of $0.27, exceeding the $0.26 analyst consensus, while revenue reached $147.82 million. The company also maintains a quarterly dividend of $0.14, equivalent to a 4.0% annualized yield.
• Analyst sentiment is moderately positive, with three Buy ratings and two Holds; the consensus price target is $15.50, above the stock’s reported $13.96 price.

Susquehanna International Group LLP lessened its stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 86.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,616 shares of the financial services provider's stock after selling 86,638 shares during the period. Susquehanna International Group LLP's holdings in Hope Bancorp were worth $186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOPE. Royal Bank of Canada boosted its holdings in shares of Hope Bancorp by 91.5% in the first quarter. Royal Bank of Canada now owns 32,828 shares of the financial services provider's stock valued at $344,000 after acquiring an additional 15,687 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hope Bancorp by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,936 shares of the financial services provider's stock worth $722,000 after purchasing an additional 3,005 shares in the last quarter. Millennium Management LLC raised its holdings in Hope Bancorp by 147.1% during the first quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider's stock worth $5,153,000 after purchasing an additional 292,994 shares in the last quarter. Caxton Associates LLP acquired a new stake in Hope Bancorp in the first quarter worth approximately $297,000. Finally, Jane Street Group LLC lifted its position in Hope Bancorp by 676.8% in the first quarter. Jane Street Group LLC now owns 227,116 shares of the financial services provider's stock worth $2,378,000 after purchasing an additional 197,877 shares during the period. 84.00% of the stock is currently owned by institutional investors.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 26,995 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $14.24, for a total transaction of $384,408.80. Following the sale, the director owned 346,120 shares in the company, valued at approximately $4,928,748.80. The trade was a 7.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.27% of the company's stock.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $13.96 on Thursday. The company has a market capitalization of $1.78 billion, a PE ratio of 13.96 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a fifty day moving average of $13.84 and a 200-day moving average of $12.67. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.59.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.01. The business had revenue of $147.82 million for the quarter, compared to analysts' expectations of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same period in the previous year, the firm posted ($0.22) EPS. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a yield of 4.0%. Hope Bancorp's dividend payout ratio (DPR) is currently 56.00%.

Analysts Set New Price Targets

HOPE has been the topic of several research analyst reports. DA Davidson lifted their price target on Hope Bancorp from $15.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded Hope Bancorp from a "hold (c+)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods raised their target price on Hope Bancorp from $14.00 to $15.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $15.50.

Hope Bancorp Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company's principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.

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