Hope Bancorp, Inc. $HOPE Shares Acquired by Rhino Investment Partners Inc

Rhino Investment Partners Inc raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 29.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,896,501 shares of the financial services provider’s stock after purchasing an additional 435,165 shares during the quarter. Hope Bancorp accounts for 6.4% of Rhino Investment Partners Inc’s investment portfolio, making the stock its 3rd largest holding. Rhino Investment Partners Inc’s holdings in Hope Bancorp were worth $20,425,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after buying an additional 2,558 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Hope Bancorp by 61.0% in the 3rd quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 1,503 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 worth $54,000 after acquiring an additional 3,071 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Hope Bancorp during the 3rd quarter worth approximately $97,000. Finally, Tower Research Capital LLC TRC grew its position in 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 worth $111,000 after acquiring an additional 5,852 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Hope Bancorp

In related news, Director Daisy Y. Ha sold 31,020 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $12.48, for a total value of $387,129.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.16% of the stock is currently owned by company insiders.

Hope Bancorp Trading Up 0.4%

Shares of NASDAQ HOPE opened at $10.80 on Friday. The company’s 50 day simple moving average is $11.72 and its 200 day simple moving average is $11.15. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $12.79. The firm has a market capitalization of $1.38 billion, a P/E ratio of 23.48 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, January 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $145.76 million during the quarter, compared to analyst estimates of $142.90 million. Hope Bancorp had a net margin of 5.81% and a return on equity of 5.09%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS. On average, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.2%. Hope Bancorp’s payout ratio is 121.74%.

About Hope Bancorp

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.