Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 819.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,713 shares of the financial services provider’s stock after purchasing an additional 3,309 shares during the period. Sterling Capital Management LLC’s holdings in Hope Bancorp were worth $46,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Barclays PLC increased its holdings in Hope Bancorp by 109.9% during the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock valued at $3,183,000 after acquiring an additional 132,677 shares in the last quarter. Geode Capital Management LLC lifted its stake in Hope Bancorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock valued at $35,703,000 after buying an additional 48,237 shares in the last quarter. Franklin Resources Inc. grew its holdings in Hope Bancorp by 4.7% during the 3rd quarter. Franklin Resources Inc. now owns 209,884 shares of the financial services provider’s stock valued at $2,722,000 after buying an additional 9,499 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock worth $8,140,000 after acquiring an additional 53,587 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Hope Bancorp by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock worth $11,218,000 after acquiring an additional 95,570 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm’s 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 transaction, the executive vice president now owns 19,267 shares in the company, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

HOPE has been the subject of a number of recent research reports. DA Davidson dropped their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.88.

Hope Bancorp Stock Up 2.7 %

Shares of NASDAQ:HOPE opened at $10.24 on Friday. Hope Bancorp, Inc. has a 12-month low of $8.83 and a 12-month high of $14.54. The stock’s 50-day moving average price is $10.22 and its two-hundred day moving average price is $11.79. 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 $1.24 billion, a price-to-earnings ratio of 12.49 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $217.17 million during the quarter, compared to the consensus estimate of $114.97 million. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend is Friday, May 2nd. Hope Bancorp’s payout ratio is currently 68.29%.

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.