Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,052,068 shares of the financial services provider's stock after acquiring an additional 158,896 shares during the quarter. JPMorgan Chase & Co. owned 0.87% of Hope Bancorp worth $12,930,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HOPE. Smartleaf Asset Management LLC grew its position 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 valued at $29,000 after acquiring an additional 1,553 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings 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 purchasing an additional 848 shares during the last quarter. KBC Group NV increased its stake 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 buying an additional 1,901 shares during the period. Cibc World Markets Corp purchased a new position in Hope Bancorp in the 4th quarter worth about $133,000. Finally, Quantinno Capital Management LP lifted its holdings in Hope Bancorp by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider's stock valued at $147,000 after buying an additional 919 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.29% of the company's stock.

Hope Bancorp Stock Up 1.3 %

Shares of HOPE traded up $0.12 during mid-day trading on Friday, hitting $9.52. The company's stock had a trading volume of 1,027,352 shares, compared to its average volume of 795,641. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 11.61 and a beta of 0.96. The company's 50-day moving average is $10.34 and its 200-day moving average is $11.86. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. Hope Bancorp, Inc. has a 52-week low of $8.83 and a 52-week high of $14.54.

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

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Thursday, February 6th. Hope Bancorp's payout ratio is 68.29%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler reduced 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. DA Davidson reduced their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.88.

About Hope Bancorp

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.