KLP Kapitalforvaltning AS Invests $332,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

KLP Kapitalforvaltning AS purchased a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,000 shares of the financial services provider's stock, valued at approximately $332,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp increased its stake 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 valued at $77,277,000 after acquiring an additional 112,824 shares during the period. Wellington Management Group LLP grew its holdings in shares of Hope Bancorp by 30.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider's stock worth $57,192,000 after purchasing an additional 1,054,124 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Hope Bancorp by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider's stock valued at $35,703,000 after purchasing an additional 48,237 shares during the period. American Century Companies Inc. raised its stake in shares of Hope Bancorp by 12.5% in the fourth quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider's stock valued at $31,375,000 after purchasing an additional 283,514 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Hope Bancorp by 1.2% in the fourth 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 in the last quarter. Institutional investors own 84.00% of the company's stock.

Hope Bancorp Price Performance

Shares of Hope Bancorp stock traded down $0.56 during mid-day trading on Thursday, reaching $9.17. 1,341,597 shares of the stock were exchanged, compared to its average volume of 782,417. Hope Bancorp, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $14.54. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 11.18 and a beta of 0.96. The firm has a 50-day simple moving average of $10.62 and a 200 day simple moving average of $11.98. 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 (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.14 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 6.11%. Hope Bancorp's payout ratio is 68.29%.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the company's stock in a transaction on 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 owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This represents a 17.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. DA Davidson lowered their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Piper Sandler dropped their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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.