California Public Employees Retirement System raised its position in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,906 shares of the financial services provider’s stock after purchasing an additional 16,776 shares during the period. California Public Employees Retirement System owned 0.30% of Hope Bancorp worth $7,100,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of HOPE. Zions Bancorporation acquired a new stake in shares of Hope Bancorp during the 3rd quarter worth approximately $102,000. Riverhead Capital Management LLC boosted its stake in Hope Bancorp by 100.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,221 shares of the financial services provider’s stock valued at $191,000 after buying an additional 5,121 shares in the last quarter. Bank of Montreal Can boosted its stake in Hope Bancorp by 1.2% in the 2nd quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock valued at $191,000 after buying an additional 122 shares in the last quarter. Commonwealth Equity Services Inc acquired a new stake in Hope Bancorp in the 3rd quarter valued at $183,000. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in Hope Bancorp in the 3rd quarter valued at $187,000. 80.56% of the stock is owned by institutional investors.
Hope Bancorp Inc (HOPE) opened at $18.08 on Wednesday. Hope Bancorp Inc has a 12-month low of $17.14 and a 12-month high of $19.53. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $2,472.84, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.35 and a beta of 1.39.
In other Hope Bancorp news, EVP Jason K. Kim sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $18.97, for a total transaction of $113,820.00. Following the completion of the transaction, the executive vice president now owns 70,729 shares of the company’s stock, valued at $1,341,729.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Koh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $17.95, for a total transaction of $179,500.00. The disclosure for this sale can be found here. Insiders sold 121,981 shares of company stock valued at $2,303,614 over the last quarter. 5.20% of the stock is owned by company insiders.
A number of research firms have recently weighed in on HOPE. FIG Partners downgraded Hope Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $20.00 to $17.00 in a research report on Friday, September 15th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $19.00 price objective on shares of Hope Bancorp in a research report on Thursday, September 7th. ValuEngine upgraded Hope Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Tuesday, December 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Hope Bancorp has an average rating of “Hold” and an average price target of $19.58.
Hope Bancorp Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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