Ieq Capital LLC Invests $371,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

Ieq Capital LLC bought a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,223 shares of the financial services provider's stock, valued at approximately $371,000.

A number of other institutional investors have also modified their holdings of the business. QRG Capital Management Inc. increased its position in Hope Bancorp by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider's stock valued at $266,000 after acquiring an additional 2,534 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider's stock valued at $8,140,000 after purchasing an additional 53,587 shares during the period. Victory Capital Management Inc. raised its stake in shares of Hope Bancorp by 18.2% during the third quarter. Victory Capital Management Inc. now owns 166,609 shares of the financial services provider's stock worth $2,093,000 after purchasing an additional 25,654 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Hope Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 410,454 shares of the financial services provider's stock worth $5,155,000 after purchasing an additional 20,904 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Hope Bancorp by 3.7% during the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider's stock worth $609,000 after purchasing an additional 1,744 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

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Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded down $0.13 on Monday, reaching $10.79. 471,910 shares of the company were exchanged, compared to its average volume of 661,684. The company has a 50-day moving average of $11.74 and a 200-day moving average of $12.47. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 13.16 and a beta of 1.15. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating 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%. Equities analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.19%. Hope Bancorp's dividend payout ratio (DPR) is currently 68.29%.

Insiders Place Their Bets

In related news, EVP Thomas Stenger sold 4,185 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HOPE has been the subject of a number of analyst reports. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Piper Sandler cut their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Finally, DA Davidson reduced their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Hope Bancorp currently has a consensus rating of "Hold" and a consensus target price of $12.88.

About Hope Bancorp

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.