New York State Common Retirement Fund Cuts Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

New York State Common Retirement Fund lessened its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 59.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,074 shares of the financial services provider's stock after selling 127,200 shares during the period. New York State Common Retirement Fund owned 0.07% of Hope Bancorp worth $1,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in Hope Bancorp by 31.2% during 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 acquiring an additional 848 shares during the period. Quantinno Capital Management LP raised its stake in shares of 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 purchasing an additional 919 shares during the period. Intech Investment Management LLC raised its stake in shares of Hope Bancorp by 3.7% during 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 during the period. KBC Group NV lifted its holdings in Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,901 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Hope Bancorp by 13.6% in the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider's stock worth $266,000 after purchasing an additional 2,534 shares during the period. Institutional investors own 84.00% of the company's stock.

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Hope Bancorp Price Performance

HOPE stock traded up $0.13 during trading on Friday, reaching $10.61. The company's stock had a trading volume of 457,268 shares, compared to its average volume of 663,625. The company's fifty day moving average is $11.63 and its 200-day moving average is $12.43. 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, Inc. has a 1 year low of $9.80 and a 1 year high of $14.54. The company has a market capitalization of $1.28 billion, a P/E ratio of 12.93 and a beta of 1.15.

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 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%. On average, research analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp's dividend payout ratio (DPR) is presently 68.29%.

Insider Buying and Selling at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm's 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 sale, the executive vice president now owns 19,267 shares of the company's stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.29% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HOPE. Piper Sandler decreased their price target 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 cut their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Friday, December 6th. Four equities research 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 stock 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.