Hope Bancorp, Inc. (NASDAQ:HOPE) Short Interest Update

Hope Bancorp, Inc. (NASDAQ:HOPE) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,650,000 shares, an increase of 38.0% from the February 28th total of 1,920,000 shares. Based on an average daily trading volume, of 745,900 shares, the days-to-cover ratio is presently 3.6 days. Approximately 2.3% of the shares of the stock are short sold.

Hope Bancorp Stock Performance

Shares of HOPE opened at $10.42 on Monday. The company has a market capitalization of $1.26 billion, a PE ratio of 12.71 and a beta of 1.15. 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 company’s 50 day moving average price is $11.11 and its 200 day moving average price is $12.20. Hope Bancorp has a 52 week low of $9.80 and a 52 week high of $14.54.

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, 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%. Research analysts expect that Hope Bancorp will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Thomas Stenger sold 4,185 shares of the 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 completion of the transaction, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hope Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hope Bancorp in the fourth quarter worth approximately $2,945,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Hope Bancorp by 30.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,356 shares of the financial services provider’s stock valued at $3,519,000 after purchasing an additional 66,076 shares in the last quarter. WBI Investments LLC raised its holdings in shares of Hope Bancorp by 26.6% during the 4th quarter. WBI Investments LLC now owns 15,901 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 3,337 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Hope Bancorp by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 35,033 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 10,752 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in Hope Bancorp by 15.2% in the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider’s stock worth $166,000 after purchasing an additional 1,786 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HOPE has been the topic of several analyst reports. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. DA Davidson lowered their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, Piper Sandler decreased their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.88.

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.