Loomis Sayles & Co. L P Has $9.55 Million Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Loomis Sayles & Co. L P reduced its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 760,693 shares of the financial services provider’s stock after selling 32,491 shares during the quarter. Loomis Sayles & Co. L P owned 0.63% of Hope Bancorp worth $9,554,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HOPE. Assenagon Asset Management S.A. grew its holdings in shares of Hope Bancorp by 232.7% during the second quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after purchasing an additional 1,632,384 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Hope Bancorp by 9.0% during the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after purchasing an additional 53,587 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Hope Bancorp by 17.4% during the second quarter. American Century Companies Inc. now owns 2,000,739 shares of the financial services provider’s stock worth $21,488,000 after purchasing an additional 296,469 shares during the last quarter. Denali Advisors LLC grew its holdings in shares of Hope Bancorp by 17.7% during the second quarter. Denali Advisors LLC now owns 350,400 shares of the financial services provider’s stock worth $3,763,000 after purchasing an additional 52,700 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Hope Bancorp during the second quarter worth $587,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Trading Down 0.2 %

NASDAQ:HOPE opened at $13.77 on Thursday. Hope Bancorp, Inc. has a 1-year low of $9.45 and a 1-year high of $14.53. The business’s 50-day moving average price is $12.93 and its two-hundred day moving average price is $11.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.39 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $246.92 million for the quarter, compared to analyst estimates of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same period in the prior year, the business earned $0.25 EPS. On average, equities analysts expect that Hope Bancorp, Inc. will post 0.85 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date was Thursday, November 7th. Hope Bancorp’s dividend payout ratio is currently 66.67%.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares in the company, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daisy Y. Ha sold 27,104 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the completion of the transaction, the director now owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,474 shares of company stock valued at $1,739,618. 5.29% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, StockNews.com cut Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, November 21st.

Hope Bancorp Company 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.