39,854 Shares in Hope Bancorp, Inc. $HOPE Bought by Man Group plc

Man Group plc purchased a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,854 shares of the financial services provider’s stock, valued at approximately $545,000.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Hope Bancorp in the 2nd quarter valued at about $252,703,000. Wellington Management Group LLP grew its stake in Hope Bancorp by 2.7% during the third quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider’s stock worth $122,089,000 after purchasing an additional 303,019 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hope Bancorp by 4.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider’s stock worth $82,298,000 after purchasing an additional 315,028 shares in the last quarter. State Street Corp increased its holdings in Hope Bancorp by 3.3% in the second quarter. State Street Corp now owns 6,494,266 shares of the financial services provider’s stock worth $69,683,000 after purchasing an additional 209,442 shares in the last quarter. Finally, HoldCo Asset Management LP acquired a new position in Hope Bancorp in the fourth quarter valued at approximately $32,838,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Trading Up 0.3%

Shares of Hope Bancorp stock opened at $14.00 on Friday. The stock has a market capitalization of $1.79 billion, a PE ratio of 14.00 and a beta of 0.83. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.59. The stock has a 50 day moving average price of $13.85 and a two-hundred day moving average price of $12.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The company had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. During the same period in the prior year, the firm earned ($0.22) earnings per share. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 1.13 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Thursday, August 6th. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Analyst Ratings Changes

HOPE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Finally, DA Davidson raised their price target on shares of Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Insider Activity

In other news, Director Daisy Ha sold 26,995 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the completion of the sale, the director directly owned 346,120 shares of the company’s stock, valued at $4,928,748.80. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.27% of the stock is owned by corporate insiders.

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.