Hsbc Holdings PLC Purchases 180,458 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Hsbc Holdings PLC lifted its position in Hope Bancorp, Inc. (NASDAQ:HOPEFree Report) by 455.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,046 shares of the financial services provider’s stock after purchasing an additional 180,458 shares during the quarter. Hsbc Holdings PLC owned about 0.18% of Hope Bancorp worth $2,683,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HOPE. QRG Capital Management Inc. purchased a new position in shares of Hope Bancorp during the third quarter valued at approximately $132,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Hope Bancorp by 8.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,033 shares during the last quarter. Everhart Financial Group Inc. purchased a new stake in shares of Hope Bancorp during the 4th quarter valued at $197,000. EMC Capital Management lifted its holdings in shares of Hope Bancorp by 57.9% during the 3rd quarter. EMC Capital Management now owns 23,066 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 8,460 shares during the last quarter. Finally, WBI Investments Inc. raised its stake in Hope Bancorp by 10.4% in the 3rd quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 3,566 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Angelee Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $10.68, for a total value of $44,856.00. Following the transaction, the executive vice president now owns 18,527 shares of the company’s stock, valued at approximately $197,868.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.29% of the stock is owned by company insiders.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $10.18 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.18 and a beta of 1.15. Hope Bancorp, Inc. has a one year low of $8.12 and a one year high of $12.51. The company has a 50-day simple moving average of $10.65 and a 200-day simple moving average of $11.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.00.

Hope Bancorp (NASDAQ:HOPEGet Free Report) last issued its 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 company had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The company’s quarterly revenue was down 14.9% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. On average, analysts predict that Hope Bancorp, Inc. will post 0.95 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.50%. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating for the company in a research note on Wednesday, May 1st. Wedbush lowered their price objective on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Finally, DA Davidson upgraded Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 target price on the stock in a report on Tuesday, April 30th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.83.

View Our Latest Report on HOPE

Hope Bancorp Profile

(Free Report)

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.

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

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