Glenmede Trust Co. NA grew its stake in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 3.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,953,008 shares of the financial services provider’s stock after acquiring an additional 70,163 shares during the quarter. Glenmede Trust Co. NA owned about 1.50% of Hope Bancorp worth $34,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HOPE. Pinebridge Investments L.P. boosted its holdings in Hope Bancorp by 1.6% in the 2nd quarter. Pinebridge Investments L.P. now owns 209,274 shares of the financial services provider’s stock worth $3,732,000 after acquiring an additional 3,216 shares during the period. Flinton Capital Management LLC raised its position in shares of Hope Bancorp by 14.2% during the 2nd quarter. Flinton Capital Management LLC now owns 27,098 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 3,366 shares in the last quarter. Foundry Partners LLC raised its position in shares of Hope Bancorp by 15.8% during the 2nd quarter. Foundry Partners LLC now owns 25,710 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 3,500 shares in the last quarter. First Midwest Bank Trust Division raised its position in shares of Hope Bancorp by 13.2% during the 2nd quarter. First Midwest Bank Trust Division now owns 31,034 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 3,617 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Hope Bancorp by 0.4% during the 2nd quarter. Wells Fargo & Company MN now owns 950,370 shares of the financial services provider’s stock valued at $16,944,000 after acquiring an additional 3,905 shares in the last quarter. 90.09% of the stock is owned by institutional investors.

In related news, Director Donald Byun sold 40,456 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $17.84, for a total transaction of $721,735.04. Following the completion of the transaction, the director now owns 35,170 shares of the company’s stock, valued at $627,432.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP David Lee Song sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total value of $88,750.00. Following the transaction, the executive vice president now directly owns 4,023 shares of the company’s stock, valued at approximately $71,408.25. The disclosure for this sale can be found here. Corporate insiders own 5.06% of the company’s stock.

Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 20th. ValuEngine raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Finally, Wedbush reissued a “neutral” rating and set a $18.00 price target (down from $19.00) on shares of Hope Bancorp in a research report on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.50.

NASDAQ HOPE traded down $0.34 during trading hours on Friday, hitting $15.41. The company had a trading volume of 1,586,142 shares, compared to its average volume of 730,081. Hope Bancorp Inc has a fifty-two week low of $14.98 and a fifty-two week high of $19.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $2.10 billion, a PE ratio of 12.63, a P/E/G ratio of 1.10 and a beta of 1.37.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. The company had revenue of $138.09 million during the quarter, compared to analyst estimates of $139.60 million. During the same period in the prior year, the business earned $0.30 earnings per share. Equities research analysts expect that Hope Bancorp Inc will post 1.47 earnings per share for the current fiscal year.

Hope Bancorp Company Profile

Hope Bancorp, Inc is a holding company. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card and mortgage loans. The company was founded in February 2002 and is headquartered in Los Angeles, CA.

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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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