Connor Clark & Lunn Investment Management Ltd. Invests $910,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 74,080 shares of the financial services provider's stock, valued at approximately $910,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Hope Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 848 shares during the last quarter. Quantbot Technologies LP purchased a new position in Hope Bancorp in the third quarter valued at approximately $58,000. KBC Group NV grew its holdings in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 1,901 shares during the period. Finally, Quantinno Capital Management LP increased its position in Hope Bancorp by 8.5% in 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 during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.29% of the company's stock.

Hope Bancorp Price Performance

HOPE traded up $0.20 during trading on Monday, reaching $10.65. 824,625 shares of the company were exchanged, compared to its average volume of 679,029. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 12.99 and a beta of 1.15. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The company's 50-day moving average is $11.24 and its two-hundred day moving average is $12.25.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. Research analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.14 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 5.26%. Hope Bancorp's payout ratio is currently 68.29%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HOPE shares. Piper Sandler cut their price target on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. DA Davidson reduced their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. Four investment 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 presently has a consensus rating of "Hold" and an average 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.