Charles Schwab Investment Management Inc. Purchases 28,414 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Charles Schwab Investment Management Inc. grew its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,374,629 shares of the financial services provider’s stock after acquiring an additional 28,414 shares during the period. Charles Schwab Investment Management Inc. owned 1.97% of Hope Bancorp worth $29,184,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its stake 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 valued at $44,000 after acquiring an additional 848 shares during the last quarter. Quantinno Capital Management LP raised its stake 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 valued at $147,000 after acquiring an additional 919 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,553 shares during the last quarter. Intech Investment Management LLC raised its stake in shares of Hope Bancorp by 3.7% in the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 1,744 shares during the last quarter. Finally, KBC Group NV raised its position in Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,901 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Trading Up 0.2 %

Shares of NASDAQ:HOPE opened at $10.51 on Tuesday. 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 company’s 50-day moving average price is $11.34 and its two-hundred day moving average price is $12.31. The stock has a market capitalization of $1.27 billion, a PE ratio of 12.82 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.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (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 forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid 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 5.33%. Hope Bancorp’s dividend payout ratio (DPR) is currently 68.29%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. DA Davidson dropped 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 report on Tuesday, January 28th. Finally, Piper Sandler dropped 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 report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.88.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the 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 transaction, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.29% of the stock is owned by company insiders.

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.