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 Price Performance

Shares of HOPE opened at $10.26 on Tuesday. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.54. The stock has a market cap of $1.24 billion, a PE ratio of 12.51 and a beta of 1.15. The firm has a 50-day simple moving average of $11.52 and a two-hundred day simple moving average of $12.40. 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 (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share 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%. As a group, analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HOPE. QRG Capital Management Inc. lifted its stake 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 acquiring an additional 2,534 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after acquiring an additional 53,587 shares during the last quarter. Victory Capital Management Inc. lifted its stake in 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 acquiring an additional 25,654 shares during the last quarter. Empowered Funds LLC raised 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 purchasing an additional 20,904 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings 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 worth $609,000 after purchasing an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HOPE. DA Davidson lowered their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note 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 for the company in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Hope Bancorp presently has a consensus rating of “Hold” and a consensus target price 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.

Hope Bancorp Company Profile

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.