Hope Bancorp, Inc. $HOPE Holdings Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 15.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 499,967 shares of the financial services provider’s stock after acquiring an additional 67,742 shares during the period. Public Sector Pension Investment Board owned about 0.39% of Hope Bancorp worth $5,385,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HOPE. Geneos Wealth Management Inc. increased its holdings in shares of Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 2,558 shares during the period. Versant Capital Management Inc grew its position in Hope Bancorp by 61.0% during the third quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,503 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Hope Bancorp by 157.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after buying an additional 3,071 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Hope Bancorp in the 3rd quarter worth approximately $97,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Hope Bancorp by 131.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,319 shares of the financial services provider’s stock valued at $111,000 after buying an additional 5,852 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $12.05 on Friday. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $12.79. The stock’s 50-day moving average is $11.71 and its two-hundred day moving average is $11.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.94. The firm has a market cap of $1.54 billion, a P/E ratio of 26.20 and a beta of 0.87.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, January 27th. The financial services provider reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The business had revenue of $145.76 million for the quarter, compared to analyst estimates of $142.90 million. During the same quarter in the prior year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, analysts anticipate 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 will be paid on Friday, February 20th. Shareholders of record on Friday, February 6th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is 121.74%.

Analysts Set New Price Targets

HOPE has been the topic of a number of research reports. Zacks Research downgraded shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and issued a $14.50 target price on shares of Hope Bancorp in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their price target on Hope Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Finally, Wall Street Zen raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hope Bancorp has a consensus rating of “Hold” and an average price target of $13.75.

Insider Buying and Selling

In other news, Director Daisy Y. Ha sold 31,020 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $12.48, for a total value of $387,129.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Malone sold 20,820 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.50, for a total transaction of $239,430.00. Following the completion of the transaction, the director owned 66,658 shares in the company, valued at $766,567. The trade was a 23.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 81,240 shares of company stock worth $990,996. Insiders own 5.16% of the company’s stock.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.