Squarepoint Ops LLC increased its holdings in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 36.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,600 shares of the financial services provider’s stock after purchasing an additional 23,192 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of Hope Bancorp worth $720,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. lifted its stake in Hope Bancorp by 12.4% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 7,990,899 shares of the financial services provider’s stock worth $65,685,000 after purchasing an additional 884,003 shares during the last quarter. State Street Corp lifted its stake in Hope Bancorp by 5.3% in the first quarter. State Street Corp now owns 5,069,602 shares of the financial services provider’s stock valued at $41,672,000 after buying an additional 256,038 shares during the last quarter. Norges Bank purchased a new stake in Hope Bancorp in the fourth quarter valued at approximately $28,402,000. Geode Capital Management LLC lifted its stake in Hope Bancorp by 7.3% in the first quarter. Geode Capital Management LLC now owns 1,885,962 shares of the financial services provider’s stock valued at $15,502,000 after buying an additional 128,441 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Hope Bancorp by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,031,451 shares of the financial services provider’s stock valued at $15,328,000 after buying an additional 29,990 shares during the last quarter. Hedge funds and other institutional investors own 84.65% of the company’s stock.
In other news, Director Steven Koh sold 5,760 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $9.61, for a total transaction of $55,353.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 277,283 shares of company stock valued at $2,819,506 in the last 90 days. Company insiders own 5.85% of the company’s stock.
Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Hope Bancorp had a return on equity of 7.63% and a net margin of 21.13%. The company had revenue of $132.56 million for the quarter, compared to analysts’ expectations of $122.82 million. During the same quarter last year, the company earned $0.34 EPS. As a group, equities research analysts anticipate that Hope Bancorp Inc will post 0.91 EPS for the current year.
HOPE has been the subject of a number of research reports. ValuEngine cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 23rd. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, TheStreet cut Hope Bancorp from a “b-” rating to a “c+” rating in a research note on Tuesday, March 3rd.
Hope Bancorp Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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