Charles Schwab Investment Management Inc. Purchases 28,414 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Charles Schwab Investment Management Inc. grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,374,629 shares of the financial services provider's stock after buying an additional 28,414 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.97% of Hope Bancorp worth $29,184,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its stake in Hope Bancorp by 31.2% in the 4th 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. Quantinno Capital Management LP increased its stake in 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 acquiring an additional 919 shares during the last quarter. Smartleaf Asset Management LLC grew its stake 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 during the period. Intech Investment Management LLC increased its holdings in Hope Bancorp by 3.7% in the 3rd quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider's stock valued at $609,000 after purchasing an additional 1,744 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,901 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

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Hope Bancorp Stock Performance

NASDAQ HOPE traded down $0.02 during midday trading on Friday, hitting $10.41. The company had a trading volume of 921,600 shares, compared to its average volume of 677,520. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.54. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 12.70 and a beta of 1.15. The firm has a fifty day simple moving average of $11.26 and a two-hundred day simple moving average of $12.27. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

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 (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%. Equities analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.38%. The ex-dividend date was Thursday, February 6th. Hope Bancorp's payout ratio is presently 68.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HOPE. Piper Sandler dropped their target price on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.88.

Insider Transactions at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction on Thursday, January 30th. The shares were 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 $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.29% of the stock is currently owned by insiders.

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.