Comerica Bank Sells 11,315 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Comerica Bank reduced its position in Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,966 shares of the financial services provider’s stock after selling 11,315 shares during the quarter. Comerica Bank’s holdings in Hope Bancorp were worth $1,865,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Hope Bancorp by 0.6% in the first quarter. BlackRock Inc. now owns 17,720,919 shares of the financial services provider’s stock valued at $284,954,000 after acquiring an additional 105,803 shares during the last quarter. State Street Corp increased its stake in shares of Hope Bancorp by 7.2% in the 1st quarter. State Street Corp now owns 7,013,612 shares of the financial services provider’s stock valued at $112,779,000 after purchasing an additional 469,232 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Hope Bancorp by 84.3% in the 2nd quarter. Macquarie Group Ltd. now owns 3,620,495 shares of the financial services provider’s stock valued at $50,108,000 after purchasing an additional 1,656,400 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Hope Bancorp by 89.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider’s stock valued at $31,954,000 after purchasing an additional 1,092,042 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Hope Bancorp by 16.4% in the second quarter. Victory Capital Management Inc. now owns 1,343,486 shares of the financial services provider’s stock valued at $18,594,000 after acquiring an additional 189,008 shares during the last quarter. 84.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler decreased their target price on Hope Bancorp to $15.00 in a research report on Friday, September 30th. StockNews.com began coverage on shares of Hope Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, DA Davidson boosted their target price on shares of Hope Bancorp to $14.00 in a research note on Thursday, October 27th.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $12.97 on Friday. Hope Bancorp, Inc. has a 1-year low of $12.27 and a 1-year high of $17.68. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.55 billion, a P/E ratio of 7.17 and a beta of 1.21. The stock’s 50-day moving average is $13.08 and its 200-day moving average is $13.75.

Hope Bancorp (NASDAQ:HOPEGet Rating) last posted its earnings results on Monday, October 24th. The financial services provider reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $166.54 million for the quarter, compared to analyst estimates of $161.25 million. Hope Bancorp had a net margin of 31.65% and a return on equity of 10.76%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Equities research analysts anticipate that Hope Bancorp, Inc. will post 1.83 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were paid a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, November 2nd. This represents a $0.56 annualized dividend and a dividend yield of 4.32%. Hope Bancorp’s payout ratio is 30.94%.

About Hope Bancorp

(Get Rating)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. The company accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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