New York State Common Retirement Fund Has $1.07 Million Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

New York State Common Retirement Fund cut its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 59.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,074 shares of the financial services provider’s stock after selling 127,200 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Hope Bancorp worth $1,070,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HOPE. QRG Capital Management Inc. boosted its holdings in Hope Bancorp by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 2,534 shares during the period. Principal Financial Group Inc. boosted its holdings in 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 purchasing an additional 53,587 shares during the period. Victory Capital Management Inc. boosted its holdings in Hope Bancorp by 18.2% in the 3rd quarter. Victory Capital Management Inc. now owns 166,609 shares of the financial services provider’s stock valued at $2,093,000 after purchasing an additional 25,654 shares during the period. Empowered Funds LLC lifted its holdings in shares of Hope Bancorp by 5.4% during the 3rd 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 lifted its holdings in shares of Hope Bancorp by 3.7% during the 3rd 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 during the period. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business’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 completion of the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HOPE shares. Piper Sandler reduced 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. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Finally, DA Davidson reduced their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hope Bancorp presently has an average rating of “Hold” and a consensus target price of $12.88.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $10.81 on Tuesday. The firm has a market cap of $1.31 billion, a PE ratio of 13.18 and a beta of 1.15. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.54. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $11.71 and its two-hundred day moving average price is $12.46.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS 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%. On average, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders 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 yield of 5.18%. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

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.