Geode Capital Management LLC Sells 32,796 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Geode Capital Management LLC trimmed its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,809,260 shares of the financial services provider's stock after selling 32,796 shares during the period. Geode Capital Management LLC owned about 2.33% of Hope Bancorp worth $34,534,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings 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. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 during the last quarter. KBC Group NV lifted its holdings in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after buying an additional 1,901 shares in the last quarter. Cibc World Markets Corp purchased a new position in shares of Hope Bancorp in the fourth quarter worth $133,000. Finally, Quantinno Capital Management LP boosted its position in shares of Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider's stock worth $147,000 after acquiring an additional 919 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the transaction, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Trading Up 1.8 %

HOPE traded up $0.17 on Tuesday, hitting $9.73. The company had a trading volume of 2,470,581 shares, compared to its average volume of 805,627. The company has a market cap of $1.18 billion, a PE ratio of 11.87 and a beta of 0.96. Hope Bancorp, Inc. has a 12-month low of $8.83 and a 12-month high of $14.54. The business's fifty day simple moving average is $10.27 and its 200 day simple moving average is $11.81. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Equities research analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.76%. Hope Bancorp's payout ratio is 68.29%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HOPE. Piper Sandler decreased their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. DA Davidson cut their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.88.

Hope Bancorp 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.