Raymond James Financial Inc. Makes New $912,000 Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Raymond James Financial Inc. purchased a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 74,241 shares of the financial services provider's stock, valued at approximately $912,000. Raymond James Financial Inc. owned approximately 0.06% of Hope Bancorp as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new stake in shares of Hope Bancorp in the fourth quarter valued at approximately $254,000. Victory Capital Management Inc. increased its holdings in Hope Bancorp by 31.2% in the 4th quarter. Victory Capital Management Inc. now owns 218,579 shares of the financial services provider's stock worth $2,686,000 after acquiring an additional 51,970 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Hope Bancorp by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,374,629 shares of the financial services provider's stock worth $29,184,000 after acquiring an additional 28,414 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Hope Bancorp by 181.9% during the fourth 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. Finally, A&I Financial Services LLC purchased a new position in shares of Hope Bancorp in the fourth quarter valued at approximately $242,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Hope Bancorp Trading Up 6.5 %

Hope Bancorp stock traded up $0.59 during midday trading on Wednesday, hitting $9.73. 1,910,947 shares of the stock were exchanged, compared to its average volume of 780,364. The stock's 50-day simple moving average is $10.66 and its 200 day simple moving average is $12.00. 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 current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 11.87 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued 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 return on equity of 4.84% and a net margin of 9.95%. On average, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 5.76%. Hope Bancorp's payout ratio is currently 68.29%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DA Davidson lowered their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler cut their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Hope Bancorp presently 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 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 directly owns 19,267 shares in the company, valued at $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.29% of the stock is currently owned by insiders.

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.