Hope Bancorp, Inc. (NASDAQ:HOPE) Stake Boosted by Quantbot Technologies LP

Quantbot Technologies LP increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 547.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,143 shares of the financial services provider’s stock after acquiring an additional 25,488 shares during the period. Quantbot Technologies LP’s holdings in Hope Bancorp were worth $370,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Hope Bancorp by 1.9% in the 3rd quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock valued at $77,277,000 after purchasing an additional 112,824 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Hope Bancorp by 30.1% in 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 buying an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Hope Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after acquiring an additional 48,237 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hope Bancorp by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,374,629 shares of the financial services provider’s stock valued at $29,184,000 after acquiring an additional 28,414 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Hope Bancorp by 15.4% in the 4th 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 acquiring an additional 240,192 shares in 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 company’s 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 directly owns 19,267 shares in the company, valued at approximately $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Down 2.1 %

Shares of HOPE stock opened at $10.42 on Friday. The stock has a 50 day moving average of $11.11 and a 200-day moving average of $12.19. The firm has a market cap of $1.26 billion, a PE ratio of 12.71 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share 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, equities analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

HOPE has been the subject of a number of recent analyst reports. DA Davidson decreased their target price 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. Piper Sandler decreased their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, 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.