Hope Bancorp, Inc. (NASDAQ:HOPE) Position Reduced by Putnam Investments LLC

Putnam Investments LLC trimmed its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating) by 1.8% during the third quarter, HoldingsChannel reports. The fund owned 102,609 shares of the financial services provider’s stock after selling 1,870 shares during the quarter. Putnam Investments LLC’s holdings in Hope Bancorp were worth $1,297,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Hope Bancorp by 0.6% during the 1st 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. Dimensional Fund Advisors LP boosted its stake in Hope Bancorp by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,414,171 shares of the financial services provider’s stock valued at $118,996,000 after acquiring an additional 196,813 shares during the last quarter. State Street Corp boosted its stake in Hope Bancorp by 7.2% during 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 acquiring an additional 469,232 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Hope Bancorp by 22.1% during the 3rd quarter. Macquarie Group Ltd. now owns 4,421,810 shares of the financial services provider’s stock valued at $55,915,000 after acquiring an additional 801,315 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position 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 worth $31,954,000 after buying an additional 1,092,042 shares during the last quarter. 84.30% of the stock is currently owned by institutional investors.

Hope Bancorp Trading Down 8.4 %

Hope Bancorp stock opened at $10.59 on Tuesday. The firm’s 50-day moving average is $12.87 and its 200-day moving average is $13.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.01. Hope Bancorp, Inc. has a 1 year low of $10.24 and a 1 year high of $17.10. The company has a market cap of $1.27 billion, a P/E ratio of 5.85 and a beta of 1.19.

Hope Bancorp (NASDAQ:HOPEGet Rating) last posted its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.02). Hope Bancorp had a return on equity of 10.86% and a net margin of 28.44%. The business had revenue of $236.35 million during the quarter, compared to the consensus estimate of $168.70 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, equities analysts expect that Hope Bancorp, Inc. will post 1.52 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 16th. Stockholders of record on Thursday, February 2nd were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, February 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.29%. Hope Bancorp’s payout ratio is currently 30.94%.

Hope Bancorp Profile

(Get Rating)

Hope Bancorp, Inc is a bank holding company, which engages in the provision of financial services through its subsidiary, Bank of Hope. It offers core business banking products for small and medium-sized businesses and individuals. Its products and services include certificate of deposit, online banking, bill payment, mobile banking, credits card, and mortgage loans.

Further Reading

Want to see what other hedge funds are holding HOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hope Bancorp, Inc. (NASDAQ:HOPEGet Rating).

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

Receive News & Ratings for Hope Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.