Hope Bancorp, Inc. (NASDAQ:HOPE) Position Lessened by Royce & Associates LP

Royce & Associates LP decreased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 68.0% during the 4th quarter, HoldingsChannel reports. The firm owned 15,815 shares of the financial services provider’s stock after selling 33,660 shares during the period. Royce & Associates LP’s holdings in Hope Bancorp were worth $194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 848 shares during the last quarter. Quantinno Capital Management LP raised its stake in Hope Bancorp by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 919 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Hope Bancorp by 181.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,553 shares in the last quarter. Intech Investment Management LLC raised its stake in Hope Bancorp by 3.7% during the 3rd quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 1,744 shares in the last quarter. Finally, KBC Group NV raised its stake in Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,901 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Up 0.2 %

HOPE opened at $10.45 on Friday. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The stock’s fifty day moving average is $11.24 and its 200-day moving average is $12.26. The company has a market capitalization of $1.26 billion, a PE ratio of 12.74 and a beta of 1.15.

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

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s payout ratio is 68.29%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HOPE. DA Davidson cut their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Piper Sandler cut their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Finally, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.88.

Insider Buying and Selling

In related news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.29% of the company’s stock.

Hope Bancorp Company 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.