Walleye Capital LLC Has $308,000 Position in Hope Bancorp, Inc. $HOPE

Walleye Capital LLC reduced its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 67.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 29,400 shares of the financial services provider’s stock after selling 60,600 shares during the quarter. Walleye Capital LLC’s holdings in Hope Bancorp were worth $308,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Hope Bancorp by 43.4% in the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock valued at $64,934,000 after buying an additional 1,877,820 shares in the last quarter. Nuveen LLC bought a new position in Hope Bancorp in the first quarter valued at about $3,451,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Hope Bancorp in the fourth quarter valued at about $2,945,000. Northern Trust Corp boosted its holdings in Hope Bancorp by 18.6% in the fourth quarter. Northern Trust Corp now owns 1,491,628 shares of the financial services provider’s stock valued at $18,332,000 after acquiring an additional 234,191 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Hope Bancorp by 7.7% during the first quarter. American Century Companies Inc. now owns 2,749,086 shares of the financial services provider’s stock worth $28,783,000 after buying an additional 196,172 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Stock Up 0.4%

NASDAQ:HOPE opened at $11.10 on Thursday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 31.71 and a beta of 0.97. Hope Bancorp, Inc. has a twelve month low of $8.82 and a twelve month high of $14.53. The stock’s 50 day moving average price is $10.80 and its two-hundred day moving average price is $10.43. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.43). The company had revenue of $94.58 million for the quarter, compared to analyst estimates of $133.90 million. Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.During the same period last year, the firm earned $0.22 EPS. Equities research analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.0%. Hope Bancorp’s payout ratio is 160.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on HOPE shares. Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Zacks Research cut Hope Bancorp from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.25.

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.