Hope Bancorp, Inc. (HOPE) Stake Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 982,195 shares of the financial services provider’s stock after buying an additional 25,700 shares during the period. Principal Financial Group Inc.’s holdings in Hope Bancorp were worth $18,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in shares of Hope Bancorp by 13.5% in the fourth quarter. State Street Corp now owns 4,356,876 shares of the financial services provider’s stock worth $95,369,000 after buying an additional 519,403 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Hope Bancorp during the fourth quarter worth about $392,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Hope Bancorp during the fourth quarter worth about $223,000. Shelton Capital Management acquired a new position in shares of Hope Bancorp during the fourth quarter worth about $222,000. Finally, Flinton Capital Management LLC acquired a new position in shares of Hope Bancorp during the fourth quarter worth about $173,000. Hedge funds and other institutional investors own 79.49% of the company’s stock.

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

Shares of Hope Bancorp, Inc. (HOPE) opened at 18.64 on Wednesday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 17.31 and a beta of 1.39. The firm has a 50-day moving average of $18.53 and a 200-day moving average of $20.12. Hope Bancorp, Inc. has a 12 month low of $13.99 and a 12 month high of $22.99.

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Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, March 28th. Keefe, Bruyette & Woods set a $22.00 price target on shares of Hope Bancorp and gave the stock a “hold” rating in a research report on Tuesday, April 4th. Piper Jaffray Companies reduced their price target on shares of Hope Bancorp from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Monday, April 17th. FIG Partners upgraded shares of Hope Bancorp from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 2nd. Finally, BidaskClub upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.25.

Hope Bancorp Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:HOPE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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