Raymond James Financial Inc. Buys New Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Raymond James Financial Inc. bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 74,241 shares of the financial services provider’s stock, valued at approximately $912,000.

Several other institutional investors also recently added to or reduced their stakes in HOPE. Smartleaf Asset Management LLC boosted its position in shares of 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 valued at $29,000 after acquiring an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in 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 during the last quarter. Quantbot Technologies LP bought a new stake in Hope Bancorp in the 3rd quarter valued at $58,000. KBC Group NV grew its position in 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 purchasing an additional 1,901 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Hope Bancorp by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 919 shares during the period. 84.00% of the stock is owned by institutional investors.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were 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 in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.29% of the stock is owned by insiders.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $9.36 on Friday. The firm has a market capitalization of $1.13 billion, a PE ratio of 11.41 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Hope Bancorp, Inc. has a 12-month low of $9.04 and a 12-month high of $14.54. The firm has a 50-day moving average price of $10.90 and a 200 day moving average price of $12.12.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping 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 anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.14 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 5.98%. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Analysts Set New Price Targets

HOPE has been the subject of several research reports. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Piper Sandler decreased their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, DA Davidson cut their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hope Bancorp currently has a consensus rating of “Hold” and an average price target of $12.88.

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.