Hope Bancorp, Inc. $HOPE Shares Sold by AlphaQuest LLC

AlphaQuest LLC decreased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 21.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,791 shares of the financial services provider’s stock after selling 14,800 shares during the quarter. AlphaQuest LLC’s holdings in Hope Bancorp were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HOPE. CKW Financial Group acquired a new position in Hope Bancorp in the 2nd quarter valued at about $32,000. Geneos Wealth Management Inc. raised its stake in Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 2,558 shares during the last quarter. GAMMA Investing LLC raised its stake in 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 purchasing an additional 1,211 shares during the last quarter. KBC Group NV raised its stake in Hope Bancorp by 16.6% in the 1st quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Hope Bancorp in the 1st quarter valued at about $105,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Down 0.5%

Shares of NASDAQ:HOPE opened at $10.68 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $14.53. The stock has a market capitalization of $1.37 billion, a P/E ratio of 30.51 and a beta of 0.92. The stock has a 50-day simple moving average of $10.85 and a 200-day simple moving average of $10.53.

Insider Activity

In other news, EVP Angelee Harris sold 3,500 shares of the business’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total transaction of $38,570.00. Following the completion of the sale, the executive vice president owned 24,241 shares in the company, valued at approximately $267,135.82. The trade was a 12.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 7,102 shares of company stock worth $76,068. 5.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on HOPE shares. Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Hope Bancorp in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.25.

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.