Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPEFree Report) by 26.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,934 shares of the financial services provider’s stock after purchasing an additional 4,017 shares during the period. QRG Capital Management Inc.’s holdings in Hope Bancorp were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. purchased a new position in shares of Hope Bancorp during the 4th quarter valued at approximately $197,000. EMC Capital Management increased its holdings in Hope Bancorp by 57.9% in the third quarter. EMC Capital Management now owns 23,066 shares of the financial services provider’s stock valued at $204,000 after buying an additional 8,460 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hope Bancorp by 35.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,700 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 7,040 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Hope Bancorp by 88.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 32,072 shares of the financial services provider’s stock worth $387,000 after acquiring an additional 15,094 shares in the last quarter. Finally, WBI Investments Inc. grew its position in shares of Hope Bancorp by 10.4% during the 3rd quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider’s stock valued at $335,000 after acquiring an additional 3,566 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Price Performance

Shares of Hope Bancorp stock opened at $10.70 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50 day simple moving average of $10.82 and a two-hundred day simple moving average of $10.96. The stock has a market capitalization of $1.29 billion, a P/E ratio of 10.70 and a beta of 1.15. Hope Bancorp, Inc. has a 12 month low of $7.93 and a 12 month high of $12.51.

Hope Bancorp (NASDAQ:HOPEGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The firm had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a net margin of 10.80% and a return on equity of 6.43%. The company’s revenue for the quarter was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. As a group, analysts predict that Hope Bancorp, Inc. will post 0.95 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 5.23%. Hope Bancorp’s payout ratio is 56.00%.

Insiders Place Their Bets

In other news, EVP Angelee Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $10.68, for a total value of $44,856.00. Following the completion of the sale, the executive vice president now directly owns 18,527 shares in the company, valued at $197,868.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HOPE. Keefe, Bruyette & Woods lowered their price target on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. Wedbush decreased their target price on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Finally, DA Davidson raised shares of Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price target for the company in a report on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Hope Bancorp has an average rating of “Hold” and a consensus target price of $11.83.

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 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.

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

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