New York State Teachers Retirement System Has $2.79 Million Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

New York State Teachers Retirement System cut its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 3.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 227,179 shares of the financial services provider’s stock after selling 8,175 shares during the quarter. New York State Teachers Retirement System’s holdings in Hope Bancorp were worth $2,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HOPE. MassMutual Private Wealth & Trust FSB grew its position in Hope Bancorp by 31.2% during 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 in the last quarter. Quantbot Technologies LP acquired a new stake in Hope Bancorp during the third quarter worth about $58,000. KBC Group NV grew its position in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,901 shares in the last quarter. CWM LLC grew its position in Hope Bancorp by 15.7% during the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,238 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after buying an additional 919 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Stock Down 2.1 %

NASDAQ HOPE opened at $10.90 on Friday. 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 stock’s 50 day moving average is $11.92 and its two-hundred day moving average is $12.49. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 13.29 and a beta of 1.15. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Equities analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.14%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s payout ratio is currently 68.29%.

Insider Transactions at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Angelee Harris sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $14.16, for a total value of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares in the company, valued at $280,297.20. The trade was a 13.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,435 shares of company stock valued at $108,964 in the last three months. 5.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on HOPE. Piper Sandler decreased their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. DA Davidson decreased their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Four equities research 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 company has an average rating of “Hold” and an average 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.