Louisiana State Employees Retirement System reduced its position in Hope Bancorp Inc (NASDAQ:HOPE) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,000 shares of the financial services provider’s stock after selling 864 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Hope Bancorp were worth $589,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of HOPE. Norges Bank bought a new position in Hope Bancorp in the fourth quarter worth $22,668,000. BlackRock Inc. lifted its position in Hope Bancorp by 3.1% in the fourth quarter. BlackRock Inc. now owns 18,737,782 shares of the financial services provider’s stock worth $222,230,000 after purchasing an additional 558,951 shares during the period. Oregon Public Employees Retirement Fund bought a new position in Hope Bancorp in the fourth quarter worth $47,000. Marshall Wace LLP bought a new position in Hope Bancorp in the third quarter worth $6,454,000. Finally, FMR LLC lifted its position in Hope Bancorp by 22.5% in the fourth quarter. FMR LLC now owns 1,982,881 shares of the financial services provider’s stock worth $23,517,000 after purchasing an additional 363,722 shares during the period. 89.65% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Zacks Investment Research cut Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 26th. ValuEngine cut Hope Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Hope Bancorp presently has a consensus rating of “Hold” and an average price target of $16.50.
In other Hope Bancorp news, EVP Peter Koh sold 6,000 shares of Hope Bancorp stock in a transaction on 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 transaction, the executive vice president now directly owns 54,687 shares of the company’s stock, valued at $815,930.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jason K. Kim sold 4,750 shares of Hope Bancorp stock in a transaction on Monday, February 25th. The shares were sold at an average price of $14.71, for a total value of $69,872.50. The disclosure for this sale can be found here. 5.06% of the stock is currently owned by company insiders.
Shares of NASDAQ HOPE opened at $13.33 on Tuesday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 1.17 and a beta of 1.50. Hope Bancorp Inc has a 52-week low of $11.37 and a 52-week high of $18.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.03 and a quick ratio of 1.03.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. The company had revenue of $131.03 million during the quarter, compared to analysts’ expectations of $132.40 million. Hope Bancorp had a return on equity of 9.48% and a net margin of 24.99%. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side analysts predict that Hope Bancorp Inc will post 1.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.20%. Hope Bancorp’s payout ratio is presently 38.89%.
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Hope Bancorp Company Profile
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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