Thrivent Financial for Lutherans decreased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 27.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,593 shares of the financial services provider's stock after selling 70,529 shares during the quarter. Thrivent Financial for Lutherans owned about 0.15% of Hope Bancorp worth $2,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in Hope Bancorp by 181.9% in the fourth 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 in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock worth $44,000 after purchasing an additional 848 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Hope Bancorp during the 3rd quarter worth approximately $58,000. KBC Group NV increased its stake 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 valued at $87,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Hope Bancorp in the fourth quarter worth $133,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm'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 value of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.29% of the stock is owned by company insiders.

Several research analysts have recently issued reports on the company. DA Davidson reduced their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. Finally, Piper Sandler cut their price objective 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. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $12.88.

Get Our Latest Analysis on Hope Bancorp

Shares of NASDAQ:HOPE opened at $10.42 on Friday. The company has a market capitalization of $1.26 billion, a PE ratio of 12.71 and a beta of 1.15. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The business has a 50 day moving average of $11.11 and a two-hundred day moving average of $12.19. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced 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 net margin of 9.95% and a return on equity of 4.84%. As a group, analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's dividend payout ratio (DPR) is presently 68.29%.

(Free Report)

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.

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