Voya Investment Management LLC Has $3.54 Million Position in Hope Bancorp, Inc. $HOPE

Voya Investment Management LLC trimmed its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 17.2% during the third quarter, HoldingsChannel.com reports. The fund owned 328,477 shares of the financial services provider’s stock after selling 68,388 shares during the period. Voya Investment Management LLC’s holdings in Hope Bancorp were worth $3,538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HOPE. Strs Ohio acquired a new stake in Hope Bancorp in the first quarter worth $670,000. Intech Investment Management LLC grew its holdings in shares of Hope Bancorp by 31.5% in the 1st quarter. Intech Investment Management LLC now owns 178,490 shares of the financial services provider’s stock valued at $1,869,000 after buying an additional 42,710 shares during the period. GAMMA Investing LLC increased its position in shares of Hope Bancorp by 29.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock valued at $57,000 after buying an additional 1,211 shares in the last quarter. Ieq Capital LLC increased its position in shares of Hope Bancorp by 89.1% in the 1st quarter. Ieq Capital LLC now owns 57,166 shares of the financial services provider’s stock valued at $599,000 after buying an additional 26,943 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Hope Bancorp by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,739,463 shares of the financial services provider’s stock worth $18,664,000 after buying an additional 48,394 shares during the period. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock opened at $11.25 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 28.85 and a beta of 0.89. The stock’s 50-day moving average is $10.77 and its 200-day moving average is $10.76. Hope Bancorp, Inc. has a one year low of $8.82 and a one year high of $12.63.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.The firm had revenue of $142.03 million for the quarter, compared to the consensus estimate of $138.87 million. During the same quarter in the previous year, the business posted $0.21 earnings per share. Equities analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were issued a $0.14 dividend. The ex-dividend date was Friday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.0%. Hope Bancorp’s dividend payout ratio (DPR) is 143.59%.

Insider Activity at Hope Bancorp

In other news, Director David P. Malone sold 20,820 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.50, for a total value of $239,430.00. Following the sale, the director owned 66,658 shares of the company’s stock, valued at $766,567. The trade was a 23.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 26,787 shares of company stock valued at $303,917 over the last 90 days. Insiders own 5.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HOPE. Weiss Ratings reissued a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday. Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, DA Davidson set a $14.50 target price on shares of Hope Bancorp in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $13.25.

Hope Bancorp Company 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.