Hope Bancorp (NASDAQ:HOPE) Stock Unloaded Rep. Jefferson Shreve

Representative Jefferson Shreve (R-Indiana) recently sold shares of Hope Bancorp, Inc. (NASDAQ:HOPE). In a filing disclosed on March 09th, the Representative disclosed that they had sold between $15,001 and $50,000 in Hope Bancorp stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

Hope Bancorp Stock Up 0.2 %

Shares of HOPE opened at $10.28 on Wednesday. The company’s 50-day moving average price is $11.48 and its 200 day moving average price is $12.38. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.24 billion, a P/E ratio of 12.54 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Hedge Funds Weigh In On Hope Bancorp

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings in Hope Bancorp by 66.8% in the third quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock valued at $2,147,000 after purchasing an additional 68,460 shares during the period. Principal Financial Group Inc. raised its position in Hope Bancorp by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after purchasing an additional 53,587 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hope Bancorp by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock valued at $11,218,000 after buying an additional 95,570 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Hope Bancorp by 47.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after buying an additional 337,599 shares during the period. Finally, Barclays PLC grew its position in shares of Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after buying an additional 132,677 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling

In other news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. DA Davidson decreased their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Piper Sandler decreased their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hope Bancorp currently has a consensus rating of “Hold” and a consensus price target of $12.88.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.