Zurcher Kantonalbank Zurich Cantonalbank Trims Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,959 shares of the financial services provider’s stock after selling 4,741 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hope Bancorp were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Swiss National Bank boosted its position in shares of Hope Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 263,657 shares of the financial services provider’s stock valued at $2,333,000 after acquiring an additional 3,000 shares during the last quarter. WBI Investments Inc. boosted its position in shares of Hope Bancorp by 10.4% during the 3rd quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 3,566 shares during the last quarter. Denali Advisors LLC boosted its position in shares of Hope Bancorp by 1.4% during the 4th quarter. Denali Advisors LLC now owns 283,500 shares of the financial services provider’s stock valued at $3,425,000 after acquiring an additional 4,000 shares during the last quarter. Seizert Capital Partners LLC boosted its position in shares of Hope Bancorp by 3.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 168,014 shares of the financial services provider’s stock valued at $1,487,000 after acquiring an additional 4,974 shares during the last quarter. Finally, EMC Capital Management lifted its position in Hope Bancorp by 57.9% in the third quarter. EMC Capital Management now owns 23,066 shares of the financial services provider’s stock valued at $204,000 after buying an additional 8,460 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Up 2.2 %

Shares of NASDAQ:HOPE opened at $10.84 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a market capitalization of $1.31 billion, a PE ratio of 10.84 and a beta of 1.15. The firm’s 50-day moving average is $10.87 and its two-hundred day moving average is $10.78. Hope Bancorp, Inc. has a 1 year low of $7.42 and a 1 year high of $12.51.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The business had revenue of $123.30 million for the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The firm’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. Analysts predict that Hope Bancorp, Inc. will post 0.98 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.14 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.17%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wedbush decreased their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.83.

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.