Jump Financial LLC Buys Shares of 38,220 Hope Bancorp, Inc. (NASDAQ:HOPE)

Jump Financial LLC bought a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,220 shares of the financial services provider’s stock, valued at approximately $470,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Barclays PLC raised its position in shares of Hope Bancorp by 109.9% during the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after purchasing an additional 132,677 shares during the last quarter. Geode Capital Management LLC increased its position in Hope Bancorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after buying an additional 48,237 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Hope Bancorp by 4.7% in the third quarter. Franklin Resources Inc. now owns 209,884 shares of the financial services provider’s stock worth $2,722,000 after acquiring an additional 9,499 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after acquiring an additional 53,587 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Hope Bancorp by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock valued at $11,218,000 after acquiring an additional 95,570 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Trading Up 2.7 %

NASDAQ HOPE opened at $10.24 on Friday. The company has a 50-day moving average of $10.22 and a 200-day moving average of $11.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 12 month low of $8.83 and a 12 month high of $14.54. The company has a market cap of $1.24 billion, a P/E ratio of 12.49 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. The company had revenue of $217.17 million for the quarter, compared to the consensus estimate of $114.97 million. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, equities analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend is Friday, May 2nd. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Insider Buying and Selling at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HOPE. Piper Sandler cut their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. DA Davidson cut their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.88.

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.