Smartleaf Asset Management LLC Grows Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Smartleaf Asset Management LLC lifted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 181.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,407 shares of the financial services provider’s stock after acquiring an additional 1,553 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Hope Bancorp were worth $29,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in shares of Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 848 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Hope Bancorp during the third quarter worth about $58,000. KBC Group NV increased its position 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 during the last quarter. Quantinno Capital Management LP increased its position in shares of Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 919 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of Hope Bancorp during the third quarter worth about $151,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Up 1.0 %

NASDAQ:HOPE opened at $10.38 on Thursday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 12.66 and a beta of 1.15. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.54. The stock has a 50-day simple moving average of $11.44 and a 200 day simple moving average of $12.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE) last issued its 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 return on equity of 4.84% and a net margin of 9.95%. Sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 EPS 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 paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a yield of 5.39%. Hope Bancorp’s payout ratio is currently 68.29%.

Wall Street Analysts Forecast Growth

HOPE has been the topic of a number of analyst reports. Piper Sandler dropped their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, DA Davidson decreased their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.88.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. 5.29% of the stock is currently owned by insiders.

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.