Hope Bancorp Inc (HOPE) Stake Lowered by Man Group plc

Man Group plc lessened its position in Hope Bancorp Inc (NASDAQ:HOPE) by 58.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,716 shares of the financial services provider’s stock after selling 172,046 shares during the period. Man Group plc’s holdings in Hope Bancorp were worth $2,017,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of HOPE. Ridgewood Investments LLC acquired a new position in Hope Bancorp during the 3rd quarter worth about $178,000. Gator Capital Management LLC lifted its position in Hope Bancorp by 40.0% during the 3rd quarter. Gator Capital Management LLC now owns 21,000 shares of the financial services provider’s stock worth $340,000 after buying an additional 6,000 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Hope Bancorp by 47.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 26,654 shares of the financial services provider’s stock worth $431,000 after buying an additional 8,550 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Hope Bancorp during the 3rd quarter worth about $438,000. Finally, First Hawaiian Bank acquired a new position in Hope Bancorp during the 3rd quarter worth about $562,000. Institutional investors own 88.68% of the company’s stock.

Shares of NASDAQ:HOPE opened at $13.36 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 1.14 and a beta of 1.47. Hope Bancorp Inc has a 1-year low of $11.37 and a 1-year 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.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $141.01 million. Hope Bancorp had a return on equity of 9.81% and a net margin of 23.43%. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. As a group, sell-side analysts expect that Hope Bancorp Inc will post 1.44 EPS for the current year.

Several research analysts recently issued reports on HOPE shares. Zacks Investment Research raised Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, September 19th. TheStreet cut Hope Bancorp from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Sandler O’Neill set a $16.00 price objective on Hope Bancorp and gave the stock a “hold” rating in a report on Wednesday, October 17th. DA Davidson dropped their price objective on Hope Bancorp to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 18th. Finally, ValuEngine cut Hope Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $17.25.

In other news, COO David P. Malone acquired 3,450 shares of the company’s stock in a transaction on Friday, October 19th. The stock was purchased at an average cost of $14.58 per share, with a total value of $50,301.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.06% of the company’s stock.

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About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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

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