Jupiter Asset Management Ltd. Makes New $520,000 Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Jupiter Asset Management Ltd. bought a new position in Hope Bancorp, Inc. (NASDAQ:HOPEFree Report) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 58,801 shares of the financial services provider’s stock, valued at approximately $520,000.

Several other institutional investors have also modified their holdings of the stock. Advisor Group Holdings Inc. grew its holdings in shares of Hope Bancorp by 51.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 1,313 shares during the period. Royal Bank of Canada grew its stake in shares of Hope Bancorp by 67.9% in the 3rd quarter. Royal Bank of Canada now owns 4,092 shares of the financial services provider’s stock valued at $51,000 after buying an additional 1,655 shares during the period. CWM LLC increased its holdings in shares of Hope Bancorp by 331.4% during the 2nd quarter. CWM LLC now owns 6,657 shares of the financial services provider’s stock worth $56,000 after buying an additional 5,114 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Hope Bancorp during the 1st quarter valued at approximately $163,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Hope Bancorp during the 2nd quarter valued at approximately $142,000. Hedge funds and other institutional investors own 83.62% of the company’s stock.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $10.79 on Monday. Hope Bancorp, Inc. has a fifty-two week low of $7.42 and a fifty-two week high of $13.39. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50 day moving average price of $11.52 and a 200 day moving average price of $10.20. The stock has a market capitalization of $1.30 billion, a P/E ratio of 9.63 and a beta of 1.14.

Hope Bancorp (NASDAQ:HOPEGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). Hope Bancorp had a return on equity of 7.03% and a net margin of 12.19%. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $138.47 million. During the same quarter last year, the company earned $0.43 earnings per share. Equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.19%. The ex-dividend date is Thursday, February 8th. Hope Bancorp’s dividend payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wedbush cut their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.33.

Check Out Our Latest Stock Analysis on HOPE

Hope Bancorp Profile

(Free Report)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. Its loan products include commercial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, and other business-related financing needs; real estate loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, auto, credit card, and personal loans.

Further Reading

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

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