Algert Global LLC Buys Shares of 10,949 Hope Bancorp, Inc. (NASDAQ:HOPE)

Algert Global LLC bought a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,949 shares of the financial services provider’s stock, valued at approximately $135,000.

Several other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after acquiring an additional 337,599 shares in the last quarter. Barclays PLC boosted its stake in Hope Bancorp by 109.9% in the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock valued at $3,183,000 after acquiring an additional 132,677 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Hope Bancorp by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider’s stock worth $22,100,000 after purchasing an additional 240,192 shares during the last quarter. EMC Capital Management increased its position 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 worth $363,000 after purchasing an additional 27,066 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Hope Bancorp by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 674,643 shares of the financial services provider’s stock worth $8,291,000 after purchasing an additional 26,548 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HOPE has been the subject of a number of research analyst reports. DA Davidson decreased their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Piper Sandler decreased 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 report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday.

Hope Bancorp Stock Performance

Shares of HOPE opened at $10.64 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a 50-day moving average of $10.03 and a two-hundred day moving average of $11.54. The stock has a market cap of $1.29 billion, a P/E ratio of 12.98 and a beta of 0.88. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $217.17 million during the quarter, compared to analysts’ expectations of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same period last year, the business posted $0.23 earnings per share. As a group, research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Friday, May 2nd. Hope Bancorp’s payout ratio is 71.79%.

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.