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

by · The Markets Daily

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 Price Performance

Hope Bancorp stock traded up $0.02 during midday trading on Tuesday, reaching $10.28. 1,541,443 shares of the stock were exchanged, compared to its average volume of 722,670. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.53. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market cap of $1.24 billion, a PE ratio of 12.54 and a beta of 1.15. The company’s fifty day moving average is $11.52 and its 200-day moving average is $12.40.

Hope Bancorp (NASDAQ:HOPE – Get Free Report) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.14 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.45%. Hope Bancorp’s dividend payout ratio (DPR) is currently 68.29%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HOPE. DA Davidson dropped their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Piper Sandler lowered their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.88.

Get Our Latest Analysis on HOPE

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the 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 owns 19,267 shares of the company’s stock, valued at $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.29% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. State Street Corp raised its position in Hope Bancorp by 1.9% in the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after purchasing an additional 112,824 shares during the period. Wellington Management Group LLP increased its holdings in shares of Hope Bancorp by 30.1% in the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after buying an additional 1,054,124 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Hope Bancorp by 3.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,963,643 shares of the financial services provider’s stock valued at $36,423,000 after acquiring an additional 103,554 shares during the period. Geode Capital Management LLC grew its position in Hope Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after acquiring an additional 48,237 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Hope Bancorp by 12.5% in the fourth quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider’s stock valued at $31,375,000 after purchasing an additional 283,514 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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 editor@ballotpedia.org 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.

Hope Bancorp Company Profile

(Get Free Report)

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.

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