American Century Companies Inc. Raises Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

American Century Companies Inc. raised its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,552,914 shares of the financial services provider's stock after buying an additional 283,514 shares during the quarter. American Century Companies Inc. owned about 2.11% of Hope Bancorp worth $31,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HOPE. Smartleaf Asset Management LLC increased its position in shares of 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 acquiring an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 buying an additional 848 shares during the last quarter. Quantbot Technologies LP bought a new position in Hope Bancorp during the third quarter worth $58,000. KBC Group NV boosted its holdings 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 buying an additional 1,901 shares during the period. Finally, Cibc World Markets Corp bought a new stake in shares of Hope Bancorp during the fourth quarter worth approximately $133,000. Institutional investors and hedge funds own 84.00% of the company's stock.

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Hope Bancorp Stock Performance

Shares of NASDAQ HOPE traded up $0.13 during mid-day trading on Wednesday, reaching $10.51. 1,240,701 shares of the company's stock were exchanged, compared to its average volume of 749,528. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.82 and a beta of 1.15. The firm has a 50-day moving average price of $11.00 and a two-hundred day moving average price of $12.16. 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, Inc. has a 52 week low of $9.80 and a 52 week high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. 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. Investors of record on Thursday, February 6th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.33%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's payout ratio is 68.29%.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction 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 directly owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HOPE shares. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. DA Davidson lowered 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. Finally, Piper Sandler cut their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Hope Bancorp currently has an average 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.