Jane Street Group LLC Sells 141,697 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Jane Street Group LLC cut its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 82.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,239 shares of the financial services provider's stock after selling 141,697 shares during the quarter. Jane Street Group LLC's holdings in Hope Bancorp were worth $359,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HOPE. Smartleaf Asset Management LLC boosted its position in Hope Bancorp by 181.9% during the 4th 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 during the period. Sterling Capital Management LLC boosted its position in Hope Bancorp by 819.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after acquiring an additional 3,309 shares during the period. KBC Group NV boosted its position in Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,901 shares during the period. Cibc World Markets Corp acquired a new stake in Hope Bancorp during the 4th quarter worth about $133,000. Finally, Sequoia Financial Advisors LLC boosted its position in Hope Bancorp by 21.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,432 shares of the financial services provider's stock worth $202,000 after acquiring an additional 2,922 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 Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

Hope Bancorp Stock Down 0.4%

Shares of Hope Bancorp stock traded down $0.04 during trading on Thursday, hitting $9.93. 519,773 shares of the stock traded hands, compared to its average volume of 832,472. The stock has a market cap of $1.27 billion, a P/E ratio of 12.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a twelve month low of $8.83 and a twelve month high of $14.54. The company has a fifty day moving average price of $9.94 and a two-hundred day moving average price of $11.21.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly 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. The business had revenue of $217.17 million during the quarter, compared to analyst estimates of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same period in the previous year, the company earned $0.23 EPS. Equities research analysts predict 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. Stockholders 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 dividend yield of 5.64%. Hope Bancorp's dividend payout ratio is 71.79%.

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.