Hope Bancorp, Inc. (HOPE) Holdings Trimmed by ProShare Advisors LLC

ProShare Advisors LLC trimmed its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 22.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,537 shares of the financial services provider’s stock after selling 4,568 shares during the quarter. ProShare Advisors LLC’s holdings in Hope Bancorp were worth $290,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its holdings in Hope Bancorp by 0.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 55 shares during the last quarter. Hanson & Doremus Investment Management boosted its holdings in Hope Bancorp by 0.7% in the 2nd quarter. Hanson & Doremus Investment Management now owns 11,870 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 85 shares during the last quarter. Bank of Montreal Can boosted its holdings 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 purchasing an additional 122 shares during the last quarter. Amalgamated Bank boosted its holdings in Hope Bancorp by 1.8% in the 2nd quarter. Amalgamated Bank now owns 17,669 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 305 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Hope Bancorp by 1.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 29,041 shares of the financial services provider’s stock valued at $557,000 after purchasing an additional 370 shares during the last quarter. Institutional investors own 79.39% of the company’s stock.

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In other Hope Bancorp news, EVP Jason K. Kim sold 2,750 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $17.70, for a total transaction of $48,675.00. Following the transaction, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at $1,251,903.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Donald Byun sold 101,026 shares of Hope Bancorp stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $16.45, for a total transaction of $1,661,877.70. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

Several research firms have weighed in on HOPE. Zacks Investment Research lowered shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Wedbush reiterated a “neutral” rating and issued a $20.00 target price on shares of Hope Bancorp in a report on Tuesday, June 27th. FIG Partners lowered shares of Hope Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $20.00 to $17.00 in a report on Friday, September 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 target price on shares of Hope Bancorp in a report on Thursday, September 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $21.00 target price on shares of Hope Bancorp in a report on Monday, September 18th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.42.

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) opened at 17.89 on Thursday. Hope Bancorp, Inc. has a 52 week low of $15.10 and a 52 week high of $22.99. The stock has a market capitalization of $2.42 billion, a P/E ratio of 16.34 and a beta of 1.41. The company’s 50-day moving average is $16.68 and its 200 day moving average is $17.88.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.02). The business had revenue of $132.94 million for the quarter, compared to analyst estimates of $136.80 million. Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. On average, equities analysts forecast that Hope Bancorp, Inc. will post $1.19 EPS for the current fiscal year.

About Hope Bancorp

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

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