Rep. Jefferson Shreve Sells Hope Bancorp, Inc. (NASDAQ:HOPE) Shares

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 Trading Up 0.6 %

Hope Bancorp stock traded up $0.06 during trading hours on Tuesday, reaching $10.32. The company had a trading volume of 808,415 shares, compared to its average volume of 668,271. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The company has a 50-day moving average price of $11.52 and a 200 day moving average price of $12.40. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 12.52 and a beta of 1.15.

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

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DA Davidson dropped their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Piper Sandler decreased their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com upgraded shares of 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.88.

Institutional Trading of Hope Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. QRG Capital Management Inc. grew its holdings in Hope Bancorp by 13.6% in the third quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 2,534 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of 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 buying an additional 53,587 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Hope Bancorp by 18.2% in the third quarter. Victory Capital Management Inc. now owns 166,609 shares of the financial services provider’s stock worth $2,093,000 after buying an additional 25,654 shares during the last quarter. Empowered Funds LLC grew its holdings in Hope Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 410,454 shares of the financial services provider’s stock worth $5,155,000 after acquiring an additional 20,904 shares during the period. Finally, Intech Investment Management LLC raised its position in Hope Bancorp by 3.7% during the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 1,744 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. This represents a 17.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.29% of the stock is currently owned by corporate insiders.

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.