Edgestream Partners L.P. Takes Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Edgestream Partners L.P. bought a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 188,917 shares of the financial services provider's stock, valued at approximately $2,322,000. Edgestream Partners L.P. owned approximately 0.16% of Hope Bancorp at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC increased its position in Hope Bancorp by 181.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after buying an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Hope Bancorp by 31.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock worth $44,000 after purchasing an additional 848 shares in the last quarter. Quantbot Technologies LP purchased a new position in Hope Bancorp in the 3rd quarter valued at about $58,000. KBC Group NV boosted its stake in shares of Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,901 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider's stock worth $147,000 after buying an additional 919 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the transaction, the executive vice president now directly owns 19,267 shares of the company's stock, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.29% of the company's stock.

Hope Bancorp Trading Down 1.2 %

NASDAQ:HOPE traded down $0.12 during trading hours on Thursday, reaching $10.26. 707,458 shares of the company were exchanged, compared to its average volume of 673,931. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 12.51 and a beta of 1.15. The stock has a 50 day simple moving average of $11.44 and a 200 day simple moving average of $12.36. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. As a group, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 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 5.46%. The ex-dividend date was Thursday, February 6th. Hope Bancorp's payout ratio is currently 68.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HOPE shares. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. DA Davidson reduced their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler lowered their price objective on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.88.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.