Four Tree Island Advisory LLC Makes New Investment in Hope Bancorp, Inc. $HOPE

Four Tree Island Advisory LLC acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 59,190 shares of the financial services provider’s stock, valued at approximately $810,000. Hope Bancorp makes up about 0.3% of Four Tree Island Advisory LLC’s portfolio, making the stock its 18th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HOPE. Royal Bank of Canada increased its holdings in Hope Bancorp by 91.5% during the 1st quarter. Royal Bank of Canada now owns 32,828 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 15,687 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Hope Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 68,936 shares of the financial services provider’s stock valued at $722,000 after buying an additional 3,005 shares during the period. Millennium Management LLC boosted its stake in shares of Hope Bancorp by 147.1% in the 1st quarter. Millennium Management LLC now owns 492,153 shares of the financial services provider’s stock valued at $5,153,000 after buying an additional 292,994 shares during the period. Caxton Associates LLP acquired a new position in shares of Hope Bancorp during the first quarter worth about $297,000. Finally, Jane Street Group LLC grew its position in shares of Hope Bancorp by 676.8% during the first quarter. Jane Street Group LLC now owns 227,116 shares of the financial services provider’s stock worth $2,378,000 after buying an additional 197,877 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $14.24 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.97. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.59. The company has a market capitalization of $1.82 billion, a PE ratio of 14.24 and a beta of 0.83. The company has a fifty day moving average of $13.65 and a two-hundred day moving average of $12.55.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted ($0.22) earnings per share. As a group, analysts expect that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, August 6th. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Wall Street Analyst Weigh In

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

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 26,995 shares of Hope Bancorp stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $14.24, for a total transaction of $384,408.80. Following the transaction, the director 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 filing with the SEC, which is available at this hyperlink. 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.