PDT Partners LLC Has $534,000 Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

PDT Partners LLC lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 51.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,492 shares of the financial services provider’s stock after selling 45,238 shares during the quarter. PDT Partners LLC’s holdings in Hope Bancorp were worth $534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HOPE. Assenagon Asset Management S.A. boosted its holdings in shares of Hope Bancorp by 232.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,333,798 shares of the financial services provider’s stock worth $25,065,000 after buying an additional 1,632,384 shares during the period. Principal Financial Group Inc. grew 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 purchasing an additional 53,587 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Hope Bancorp by 17.4% in 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 period. Denali Advisors LLC increased its stake in shares of Hope Bancorp by 17.7% in 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 period. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Hope Bancorp during the 2nd quarter worth about $587,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $13.70 on Tuesday. The company’s fifty day moving average is $12.98 and its two-hundred day moving average is $12.04. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 16.31 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick 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 issued its quarterly earnings results on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. The firm had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Equities research analysts forecast that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.09%. Hope Bancorp’s payout ratio is 66.67%.

Insider Buying and Selling

In other news, Director Daisy Y. Ha sold 27,104 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 directly owns 446,806 shares of the company’s stock, valued at approximately $6,179,326.98. This represents a 5.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven Koh sold 96,620 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $13.33, for a total value of $1,287,944.60. Following the transaction, the director now owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This trade represents a 2.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,474 shares of company stock valued at $1,739,618 over the last ninety days. 5.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a research 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.