State of Alaska Department of Revenue Reduces Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

State of Alaska Department of Revenue trimmed its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,891 shares of the financial services provider’s stock after selling 915 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Hope Bancorp worth $892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. boosted its position in Hope Bancorp by 11.9% in the third quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock worth $10,223,000 after purchasing an additional 123,041 shares during the last quarter. AQR Capital Management LLC boosted its position in Hope Bancorp by 70.5% in the third quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after purchasing an additional 315,935 shares during the last quarter. Boston Partners boosted its position in Hope Bancorp by 32.5% in the third quarter. Boston Partners now owns 1,216,170 shares of the financial services provider’s stock worth $10,742,000 after purchasing an additional 298,349 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in Hope Bancorp in the third quarter worth about $627,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Hope Bancorp by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,776 shares of the financial services provider’s stock worth $15,300,000 after purchasing an additional 145,721 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOPE has been the topic of several research reports. Wedbush 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 Wednesday, January 31st. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $11.33.

Hope Bancorp Stock Up 0.7 %

NASDAQ HOPE opened at $11.08 on Wednesday. The stock’s 50-day moving average price is $11.02 and its 200-day moving average price is $10.57. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90. Hope Bancorp, Inc. has a 52 week low of $7.42 and a 52 week high of $12.51. The company has a market capitalization of $1.33 billion, a P/E ratio of 9.89 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The business had revenue of $135.20 million for the quarter, compared to the consensus estimate of $138.47 million. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. During the same period last year, the business posted $0.43 EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.05%. The ex-dividend date of this dividend was Thursday, February 8th. Hope Bancorp’s dividend payout ratio (DPR) is presently 50.00%.

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.