Quantbot Technologies LP Increases Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Quantbot Technologies LP lifted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 547.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,143 shares of the financial services provider's stock after purchasing an additional 25,488 shares during the period. Quantbot Technologies LP's holdings in Hope Bancorp were worth $370,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in Hope Bancorp by 1.9% during the third quarter. State Street Corp now owns 6,152,656 shares of the financial services provider's stock worth $77,277,000 after buying an additional 112,824 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider's stock valued at $57,192,000 after acquiring an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC increased its position in Hope Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider's stock worth $35,703,000 after purchasing an additional 48,237 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Hope Bancorp by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,374,629 shares of the financial services provider's stock valued at $29,184,000 after purchasing an additional 28,414 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Hope Bancorp by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock valued at $22,100,000 after purchasing an additional 240,192 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Trading Up 1.3 %

Shares of HOPE traded up $0.13 during mid-day trading on Wednesday, hitting $10.51. The company had a trading volume of 1,240,701 shares, compared to its average volume of 749,528. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.54. 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 business's 50-day simple moving average is $11.00 and its 200-day simple moving average is $12.16. The stock has a market cap of $1.27 billion, a PE ratio of 12.82 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share 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%. Sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current 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 paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.33%. Hope Bancorp's dividend payout ratio is presently 68.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HOPE. StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Friday, December 6th. Piper Sandler lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Finally, DA Davidson cut their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $12.88.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business'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 transaction 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. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.