Pinebridge Investments L.P. cut its stake in Hope Bancorp Inc (NASDAQ:HOPE) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,784 shares of the financial services provider’s stock after selling 3,529 shares during the period. Pinebridge Investments L.P. owned 0.06% of Hope Bancorp worth $1,474,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation acquired a new stake in Hope Bancorp in the 3rd quarter worth approximately $102,000. Commonwealth Equity Services Inc acquired a new stake in Hope Bancorp in the 3rd quarter worth approximately $183,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Hope Bancorp in the 3rd quarter worth approximately $187,000. Pinnacle Associates Ltd. acquired a new stake in Hope Bancorp in the 3rd quarter worth approximately $192,000. Finally, Engineers Gate Manager LP acquired a new stake in Hope Bancorp in the 4th quarter worth approximately $280,000. Institutional investors own 82.11% of the company’s stock.
Shares of Hope Bancorp Inc (NASDAQ:HOPE) opened at $18.64 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.06 and a current ratio of 1.07. Hope Bancorp Inc has a 12 month low of $17.14 and a 12 month high of $19.86. The company has a market cap of $2,492.06, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.17 and a beta of 1.38.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Hope Bancorp had a net margin of 21.96% and a return on equity of 8.71%. The business had revenue of $142.84 million during the quarter, compared to analysts’ expectations of $139.26 million. During the same period in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. equities research analysts predict that Hope Bancorp Inc will post 1.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 19th. Shareholders of record on Monday, February 5th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, February 2nd. Hope Bancorp’s payout ratio is 50.49%.
In other Hope Bancorp news, Director Steven Koh sold 10,000 shares of Hope Bancorp stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $17.95, for a total transaction of $179,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Lee Song sold 3,000 shares of Hope Bancorp stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total transaction of $57,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,757 shares of company stock valued at $1,544,980. Company insiders own 5.20% of the company’s stock.
A number of research firms recently commented on HOPE. Zacks Investment Research cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. ValuEngine upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $22.00 target price on shares of Hope Bancorp in a research note on Tuesday, January 9th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a research note on Thursday, November 2nd. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.92.
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About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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