Intech Investment Management LLC Grows Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Intech Investment Management LLC raised its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 180.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,780 shares of the financial services provider's stock after buying an additional 87,316 shares during the quarter. Intech Investment Management LLC owned about 0.11% of Hope Bancorp worth $1,669,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Hope Bancorp by 181.9% in the 4th 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 lifted its stake 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 worth $44,000 after buying an additional 848 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Hope Bancorp during the third quarter valued at approximately $58,000. KBC Group NV increased its position in shares of 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 acquiring an additional 1,901 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Hope Bancorp in the 4th quarter valued at approximately $133,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp 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 transaction, the executive vice president now directly owns 19,267 shares of the company's stock, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.29% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Piper Sandler reduced their target price on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, December 6th. Finally, DA Davidson reduced their price target 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. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $12.88.

Hope Bancorp Stock Performance

Shares of HOPE traded up $0.05 during trading hours on Wednesday, hitting $10.66. The stock had a trading volume of 578,313 shares, compared to its average volume of 679,954. The firm has a market capitalization of $1.29 billion, a PE ratio of 13.00 and a beta of 1.15. 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 12 month low of $9.80 and a 12 month high of $14.54. The stock has a fifty day moving average price of $11.20 and a 200 day moving average price of $12.23.

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

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's dividend payout ratio is presently 68.29%.

Hope Bancorp 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.