Proficio Capital Partners LLC Makes New Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Proficio Capital Partners LLC acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20,659 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HOPE. Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Hope Bancorp by 31.2% during the 4th 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 last quarter. Quantbot Technologies LP bought a new position in shares of Hope Bancorp in the 3rd quarter valued at about $58,000. KBC Group NV grew its holdings in shares of Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,901 shares in the last quarter. Finally, Quantinno Capital Management LP increased 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 valued at $147,000 after acquiring an additional 919 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.66 on Thursday. 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 business’s 50 day moving average price is $11.17 and its two-hundred day moving average price is $12.22. The company has a market cap of $1.29 billion, a PE ratio of 13.00 and a beta of 1.15. Hope Bancorp, Inc. has a twelve month low of $9.80 and a twelve month high of $14.54.

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, topping 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%. On average, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Analyst Ratings Changes

A number of research analysts have weighed in on HOPE shares. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. 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. Finally, Piper Sandler lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.88.

Insider Buying and Selling

In related news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp 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 sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their position. The transaction was disclosed in a document filed 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.