30,223 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Bought by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,223 shares of the financial services provider’s stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of Hope Bancorp by 4.1% in the 4th quarter. Principal Financial Group Inc. now owns 674,643 shares of the financial services provider’s stock valued at $8,291,000 after acquiring an additional 26,548 shares during the last quarter. Empowered Funds LLC lifted its position in Hope Bancorp by 5.1% in the fourth quarter. Empowered Funds LLC now owns 431,536 shares of the financial services provider’s stock valued at $5,304,000 after purchasing an additional 21,082 shares during the last quarter. EMC Capital Management boosted its stake in shares of Hope Bancorp by 1,082.6% during the fourth quarter. EMC Capital Management now owns 29,566 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 27,066 shares during the period. KBC Group NV grew its holdings in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,901 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after buying an additional 848 shares during the period. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares in the company, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.29% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HOPE shares. DA Davidson cut their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Finally, Piper Sandler reduced their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.88.

Hope Bancorp Stock Up 0.1 %

Shares of NASDAQ HOPE opened at $10.82 on Friday. The firm has a fifty day simple moving average of $11.77 and a two-hundred day simple moving average of $12.46. Hope Bancorp, Inc. has a 12 month low of $9.80 and a 12 month high of $14.54. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.31 billion, a PE ratio of 13.20 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share 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 given a dividend of $0.14 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 5.18%. Hope Bancorp’s dividend payout ratio is presently 68.29%.

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.