Hope Bancorp, Inc. (NASDAQ:HOPE) Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 31.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,579 shares of the financial services provider's stock after purchasing an additional 51,970 shares during the quarter. Victory Capital Management Inc. owned about 0.18% of Hope Bancorp worth $2,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of 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 acquiring an additional 28,414 shares during the period. Smartleaf Asset Management LLC increased its holdings 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 purchasing an additional 1,553 shares during the last quarter. A&I Financial Services LLC purchased a new stake in Hope Bancorp in the fourth quarter valued at approximately $242,000. Proficio Capital Partners LLC acquired a new position in Hope Bancorp during the fourth quarter worth $254,000. Finally, Bank of New York Mellon Corp lifted its stake in Hope Bancorp by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock worth $22,100,000 after purchasing an additional 240,192 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Hope Bancorp Stock Performance

Hope Bancorp stock traded down $0.13 during midday trading on Thursday, hitting $10.41. 242,671 shares of the company's stock were exchanged, compared to its average volume of 670,589. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 12.79 and a beta of 1.15. The firm's 50 day simple moving average is $11.29 and its 200 day simple moving average is $12.29. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54.

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 return on equity of 4.84% and a net margin of 9.95%. Equities research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Thursday, February 6th. Hope Bancorp's dividend payout ratio is currently 68.29%.

Insider Activity at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 19,267 shares of the company's stock, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HOPE has been the subject of a number of research reports. DA Davidson dropped their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. Piper Sandler lowered their target price on 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, StockNews.com raised Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Hope Bancorp presently has a consensus rating of "Hold" and a consensus target price of $12.88.

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.