Hope Bancorp, Inc. (NASDAQ:HOPE) Stock Position Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 227,179 shares of the financial services provider’s stock after selling 8,175 shares during the quarter. New York State Teachers Retirement System owned 0.19% of Hope Bancorp worth $2,792,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HOPE. MassMutual Private Wealth & Trust FSB boosted its position in shares of Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after buying an additional 848 shares during the period. Quantinno Capital Management LP boosted its position in shares of Hope Bancorp by 8.5% in the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after buying an additional 919 shares during the period. CWM LLC boosted its position in shares of Hope Bancorp by 15.7% in the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,238 shares during the period. Intech Investment Management LLC raised its holdings in shares of 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 acquiring an additional 1,744 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,901 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $10.90 on Friday. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.53. The stock’s 50-day moving average is $11.92 and its two-hundred day moving average is $12.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The firm has a market cap of $1.32 billion, a P/E ratio of 13.29 and a beta of 1.15.

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

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.14%. Hope Bancorp’s dividend payout ratio (DPR) is currently 68.29%.

Wall Street Analyst Weigh In

HOPE has been the subject of several recent research reports. Piper Sandler cut their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Finally, DA Davidson cut their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Hope Bancorp currently has a consensus rating of “Hold” and a consensus price target of $12.88.

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the transaction, the executive vice president now directly owns 19,795 shares in the company, valued at $280,297.20. This trade represents a 13.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now owns 19,267 shares in the company, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,435 shares of company stock worth $108,964 over the last three months. Corporate insiders own 5.29% of the company’s stock.

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.