Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 699,108 shares of the financial services provider’s stock after buying an additional 24,465 shares during the period. Principal Financial Group Inc.’s holdings in Hope Bancorp were worth $7,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Frontier Capital Management Co. LLC lifted its position in shares of Hope Bancorp by 3.6% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,963,643 shares of the financial services provider’s stock worth $36,423,000 after buying an additional 103,554 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Hope Bancorp by 12.5% during the 4th quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider’s stock worth $31,375,000 after buying an additional 283,514 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Hope Bancorp by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,374,629 shares of the financial services provider’s stock worth $29,184,000 after buying an additional 28,414 shares during the last quarter. Rhino Investment Partners Inc lifted its position in shares of Hope Bancorp by 55.6% during the 4th quarter. Rhino Investment Partners Inc now owns 1,684,886 shares of the financial services provider’s stock worth $20,707,000 after buying an additional 601,876 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Hope Bancorp by 18.6% during the 4th quarter. Northern Trust Corp now owns 1,491,628 shares of the financial services provider’s stock worth $18,332,000 after buying an additional 234,191 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, May 12th.

Hope Bancorp Stock Down 3.9%

Shares of Hope Bancorp stock opened at $11.21 on Wednesday. The company has a market cap of $1.44 billion, a P/E ratio of 14.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.96 and a current ratio of 0.96. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. The firm has a fifty day moving average of $10.55 and a two-hundred day moving average of $10.73.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Hope Bancorp had a net margin of 9.82% and a return on equity of 4.60%. The company had revenue of $217.17 million during the quarter, compared to the consensus estimate of $114.97 million. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, analysts forecast 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 Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 2nd. This represents a $0.56 annualized dividend and a dividend yield of 5.00%. Hope Bancorp’s dividend payout ratio is currently 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.