Dimensional Fund Advisors LP Has $82.30 Million Holdings in Hope Bancorp, Inc. $HOPE

Dimensional Fund Advisors LP boosted its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,367,855 shares of the financial services provider’s stock after purchasing an additional 315,028 shares during the quarter. Dimensional Fund Advisors LP owned about 5.76% of Hope Bancorp worth $82,298,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. HoldCo Asset Management LP bought a new position in Hope Bancorp during the fourth quarter worth about $32,838,000. Millennium Management LLC increased its stake in shares of Hope Bancorp by 366.8% in the 3rd quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock valued at $14,439,000 after acquiring an additional 1,053,434 shares during the last quarter. UBS Group AG increased its stake in shares of Hope Bancorp by 73.5% in the 4th quarter. UBS Group AG now owns 1,972,716 shares of the financial services provider’s stock valued at $21,621,000 after acquiring an additional 835,814 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Hope Bancorp by 44.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,310,967 shares of the financial services provider’s stock valued at $14,368,000 after acquiring an additional 404,505 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Hope Bancorp by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider’s stock valued at $122,089,000 after acquiring an additional 303,019 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In related news, Director Daisy Y. Ha sold 12,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total transaction of $150,360.00. Following the completion of the transaction, the director directly owned 373,115 shares in the company, valued at approximately $4,675,130.95. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.27% of the company’s stock.

Hope Bancorp Trading Down 0.7%

HOPE opened at $14.03 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of 14.03 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.25. Hope Bancorp, Inc. has a 12 month low of $9.44 and a 12 month high of $14.23. The firm’s fifty day simple moving average is $13.20 and its 200 day simple moving average is $12.32.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) 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 firm had revenue of $147.82 million during the quarter, compared to analysts’ expectations of $146.50 million. During the same quarter in the prior year, the company earned ($0.22) EPS. As a group, research analysts anticipate that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 6th. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HOPE. DA Davidson boosted their price objective on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Hope Bancorp currently has a consensus rating of “Hold” and a consensus price target of $15.00.

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.