Canada Pension Plan Investment Board Takes Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Canada Pension Plan Investment Board acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 75,100 shares of the financial services provider's stock, valued at approximately $923,000. Canada Pension Plan Investment Board owned about 0.06% of Hope Bancorp at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. 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 purchasing an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake 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 buying an additional 848 shares during the last quarter. Sterling Capital Management LLC increased its position in Hope Bancorp by 819.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after buying an additional 3,309 shares during the period. KBC Group NV lifted its stake in Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,901 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in shares of Hope Bancorp in the fourth quarter valued at approximately $133,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HOPE. 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 report on Thursday, January 30th. StockNews.com lowered shares of Hope Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, April 24th. Finally, DA Davidson decreased 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Hope Bancorp has a consensus rating of "Hold" and a consensus target price of $12.88.

Hope Bancorp Stock Performance

NASDAQ:HOPE traded up $0.18 during midday trading on Tuesday, reaching $10.15. The stock had a trading volume of 356,752 shares, compared to its average volume of 821,880. 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 stock has a market cap of $1.23 billion, a P/E ratio of 12.38 and a beta of 0.96. The firm has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $11.74. Hope Bancorp, Inc. has a 12-month low of $8.83 and a 12-month high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $217.17 million for the quarter, compared to analyst estimates of $114.97 million. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. During the same period in the previous year, the business posted $0.23 earnings per share. On average, equities analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.14 per share. The ex-dividend date is Friday, May 2nd. This represents a $0.56 annualized dividend and a dividend yield of 5.52%. Hope Bancorp's payout ratio is currently 71.79%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 5.16% of the company's stock.

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.