Victory Capital Management Inc. Acquires 51,970 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Victory Capital Management Inc. increased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,579 shares of the financial services provider’s stock after acquiring an additional 51,970 shares during the quarter. Victory Capital Management Inc.’s holdings in Hope Bancorp were worth $2,686,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 valued at $44,000 after purchasing an additional 848 shares during the period. Quantbot Technologies LP bought a new position in shares of Hope Bancorp during the 3rd quarter worth about $58,000. KBC Group NV grew its stake in shares of Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,901 shares during the period. Finally, Quantinno Capital Management LP increased its position in Hope Bancorp by 8.5% in the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock valued at $147,000 after buying an additional 919 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction 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. This trade represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

HOPE stock opened at $10.49 on Monday. 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 business has a 50-day simple moving average of $11.38 and a two-hundred day simple moving average of $12.33. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.79 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.

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

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is 68.29%.

Analyst Ratings Changes

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