Cibc World Markets Corp Invests $133,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

Cibc World Markets Corp acquired a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,850 shares of the financial services provider’s stock, valued at approximately $133,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Hope Bancorp by 31.2% during the 4th 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 in the last quarter. Quantinno Capital Management LP boosted 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 valued at $147,000 after buying an additional 919 shares during the period. Smartleaf Asset Management LLC boosted its position in Hope Bancorp by 181.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,553 shares during the period. Intech Investment Management LLC grew its stake in shares of Hope Bancorp by 3.7% in the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 1,744 shares during the last quarter. Finally, KBC Group NV grew its position 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 worth $87,000 after buying an additional 1,901 shares during the last quarter. Institutional investors 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 business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares in the company, 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 at the SEC website. Insiders own 5.29% of the company’s stock.

Hope Bancorp Price Performance

HOPE stock opened at $10.64 on Friday. 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 firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 12.98 and a beta of 1.15. The firm has a 50 day moving average price of $11.14 and a 200-day moving average price of $12.21. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last released 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 research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.26%. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HOPE. Piper Sandler reduced their price target on shares of 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 cut their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hope Bancorp 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.