Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 21.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,432 shares of the financial services provider’s stock after purchasing an additional 2,922 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Hope Bancorp were worth $202,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Wellington Management Group LLP boosted its position in Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after acquiring an additional 1,054,124 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after purchasing an additional 337,599 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Hope Bancorp by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider’s stock valued at $22,100,000 after purchasing an additional 240,192 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Hope Bancorp in the fourth quarter valued at approximately $2,322,000. Finally, Barclays PLC lifted its position in Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after buying an additional 132,677 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

HOPE has been the subject of a number of recent research reports. DA Davidson cut their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Piper Sandler cut their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.88.

Hope Bancorp Stock Down 1.0 %

Shares of HOPE opened at $10.43 on Friday. The company’s 50-day moving average price is $11.26 and its 200 day moving average price is $12.27. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.26 billion, a P/E ratio of 12.72 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.37%. Hope Bancorp’s payout ratio is presently 68.29%.

Insider Activity at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the transaction, the executive vice president now owns 19,267 shares in the company, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.29% of the company’s stock.

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.