Townsquare Capital LLC Purchases Shares of 13,844 Hope Bancorp, Inc. (NASDAQ:HOPE)

Townsquare Capital LLC purchased a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,844 shares of the financial services provider’s stock, valued at approximately $174,000.

Several other institutional investors have also recently made changes to their positions in HOPE. nVerses Capital LLC bought a new position in shares of Hope Bancorp during the 3rd quarter valued at approximately $48,000. Fifth Third Bancorp boosted its position in shares of Hope Bancorp by 149.5% in the second quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 3,163 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Hope Bancorp in the third quarter worth $58,000. Choreo LLC bought a new stake in shares of Hope Bancorp during the 2nd quarter valued at $108,000. Finally, AE Wealth Management LLC purchased a new position in shares of Hope Bancorp during the 2nd quarter valued at $112,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of NASDAQ HOPE opened at $13.45 on Friday. The company has a market cap of $1.62 billion, a P/E ratio of 16.01 and a beta of 1.15. The firm’s fifty day moving average is $13.09 and its two-hundred day moving average is $12.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The business had revenue of $246.92 million during the quarter, compared to the consensus estimate of $121.67 million. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. During the same quarter in the prior year, the firm posted $0.25 EPS. As a group, analysts anticipate that Hope Bancorp, Inc. will post 0.85 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, November 7th. Hope Bancorp’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

Separately, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday.

Insider Activity

In related news, Director Daisy Y. Ha sold 27,104 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the transaction, the director now owns 446,806 shares of the company’s stock, valued at $6,179,326.98. This trade represents a 5.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Angelee Harris sold 3,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now owns 19,795 shares in the company, valued at $280,297.20. This represents a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,224 shares of company stock valued at $1,737,873. 5.29% of the stock is currently owned by company insiders.

About Hope Bancorp

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.