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

Voya Investment Management LLC decreased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 17.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 328,477 shares of the financial services provider’s stock after selling 68,388 shares during the period. Voya Investment Management LLC owned about 0.26% of Hope Bancorp worth $3,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. CKW Financial Group bought a new stake in Hope Bancorp during the 2nd quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its stake in Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 2,558 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Hope Bancorp by 157.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,071 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Hope Bancorp by 29.3% during the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Hope Bancorp by 131.0% in the second quarter. Tower Research Capital LLC TRC now owns 10,319 shares of the financial services provider’s stock valued at $111,000 after buying an additional 5,852 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $11.25 on Friday. The company has a market cap of $1.44 billion, a PE ratio of 28.85 and a beta of 0.89. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $12.63. The company’s 50-day moving average is $10.77 and its two-hundred day moving average is $10.76.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share 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 business had revenue of $142.03 million for the quarter, compared to the consensus estimate of $138.87 million. During the same period last year, the firm earned $0.21 earnings per share. Equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were given a dividend of $0.14 per share. The ex-dividend date was Friday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 5.0%. Hope Bancorp’s payout ratio is presently 143.59%.

Insider Buying and Selling at Hope Bancorp

In other news, Director David P. Malone sold 20,820 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.50, for a total value of $239,430.00. Following the transaction, the director owned 66,658 shares of the company’s stock, valued at $766,567. This represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 26,787 shares of company stock valued at $303,917. Corporate insiders own 5.16% of the company’s stock.

Analyst Ratings Changes

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