Hope Bancorp Inc (HOPE) Stake Lifted by LSV Asset Management

LSV Asset Management boosted its position in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 0.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,189,126 shares of the financial services provider’s stock after purchasing an additional 21,600 shares during the quarter. LSV Asset Management’s holdings in Hope Bancorp were worth $54,793,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HOPE. Raymond James & Associates lifted its holdings in Hope Bancorp by 16.5% in the first quarter. Raymond James & Associates now owns 297,754 shares of the financial services provider’s stock valued at $3,895,000 after buying an additional 42,157 shares during the period. Everence Capital Management Inc. bought a new stake in Hope Bancorp in the 1st quarter worth about $200,000. American International Group Inc. boosted its stake in Hope Bancorp by 16.7% in the first quarter. American International Group Inc. now owns 199,328 shares of the financial services provider’s stock valued at $2,607,000 after acquiring an additional 28,595 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Hope Bancorp by 20.2% in the first quarter. Victory Capital Management Inc. now owns 98,346 shares of the financial services provider’s stock valued at $1,286,000 after acquiring an additional 16,517 shares during the last quarter. Finally, Boston Partners boosted its stake in Hope Bancorp by 3.5% in the first quarter. Boston Partners now owns 231,569 shares of the financial services provider’s stock valued at $3,029,000 after acquiring an additional 7,879 shares during the last quarter. 89.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on the stock. ValuEngine raised shares of Hope Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.50.

In other news, EVP Jason K. Kim sold 4,750 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $14.71, for a total value of $69,872.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Peter Koh sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $14.92, for a total transaction of $89,520.00. Following the completion of the sale, the executive vice president now directly owns 54,687 shares of the company’s stock, valued at $815,930.04. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.

Shares of HOPE stock opened at $13.80 on Tuesday. Hope Bancorp Inc has a 52 week low of $11.37 and a 52 week high of $18.88. The company has a market capitalization of $1.77 billion, a PE ratio of 9.58, a P/E/G ratio of 1.25 and a beta of 1.52. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Hope Bancorp had a net margin of 24.99% and a return on equity of 9.48%. The company had revenue of $131.03 million for the quarter, compared to the consensus estimate of $132.40 million. During the same quarter last year, the firm posted $0.38 earnings per share. Equities research analysts anticipate that Hope Bancorp Inc will post 1.39 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 26th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, April 25th. Hope Bancorp’s dividend payout ratio is presently 38.89%.

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About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.

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

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