Charles Schwab Investment Management Inc. Has $29.18 Million Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Charles Schwab Investment Management Inc. increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,374,629 shares of the financial services provider’s stock after acquiring an additional 28,414 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Hope Bancorp were worth $29,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in HOPE. Wellington Management Group LLP boosted its position in shares of Hope Bancorp by 30.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after acquiring an additional 1,054,124 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Hope Bancorp by 47.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock valued at $12,968,000 after purchasing an additional 337,599 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 purchasing an additional 240,192 shares during the last quarter. Barclays PLC lifted its stake in Hope Bancorp by 109.9% in the 3rd quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock valued at $3,183,000 after purchasing an additional 132,677 shares during the last quarter. Finally, State Street Corp lifted its stake in 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. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In other news, EVP Thomas Stenger sold 4,185 shares of the 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 completion of the sale, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

HOPE stock opened at $10.51 on Tuesday. The company has a fifty day moving average price of $11.34 and a 200-day moving average price of $12.31. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.82 and a beta of 1.15. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

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, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. As a group, equities analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.33%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s payout ratio is currently 68.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. DA Davidson dropped their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Piper Sandler dropped their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.88.

Hope Bancorp Profile

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.