Vanguard Group Inc. Boosts Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Vanguard Group Inc. increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,730,473 shares of the financial services provider’s stock after acquiring an additional 115,826 shares during the quarter. Vanguard Group Inc. owned about 11.43% of Hope Bancorp worth $165,864,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Hope Bancorp in the 4th quarter worth $9,960,000. AQR Capital Management LLC boosted its stake in Hope Bancorp by 70.5% in the 3rd quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after purchasing an additional 315,935 shares during the period. Wellington Management Group LLP purchased a new stake in Hope Bancorp during the 4th quarter valued at approximately $2,977,000. Hsbc Holdings PLC raised its position in shares of Hope Bancorp by 455.8% during the fourth quarter. Hsbc Holdings PLC now owns 220,046 shares of the financial services provider’s stock valued at $2,683,000 after buying an additional 180,458 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 28.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock worth $9,345,000 after buying an additional 170,985 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $10.51 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day simple moving average of $10.44 and a 200-day simple moving average of $10.97. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.51 and a beta of 1.15. Hope Bancorp, Inc. has a 1 year low of $8.14 and a 1 year high of $12.51.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The firm had revenue of $123.30 million during the quarter, compared to the consensus estimate of $130.42 million. During the same quarter last year, the business posted $0.33 EPS. Hope Bancorp’s revenue was down 14.9% compared to the same quarter last year. Equities analysts forecast that Hope Bancorp, Inc. will post 0.95 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Wednesday, May 8th. Hope Bancorp’s payout ratio is currently 56.00%.

Insider Buying and Selling at Hope Bancorp

In related news, Director Steven Koh sold 3,857 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $9.94, for a total value of $38,338.58. Following the transaction, the director now owns 3,294,186 shares of the company’s stock, valued at approximately $32,744,208.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hope Bancorp news, Director Steven Koh sold 3,857 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $9.94, for a total transaction of $38,338.58. Following the transaction, the director now directly owns 3,294,186 shares in the company, valued at approximately $32,744,208.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Angelee Harris sold 4,200 shares of Hope Bancorp stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total value of $44,856.00. Following the sale, the executive vice president now directly owns 18,527 shares of the company’s stock, valued at $197,868.36. The disclosure for this sale can be found here. 5.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HOPE shares. Wedbush cut their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.83.

Hope Bancorp 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.