Gotham Asset Management LLC Acquires New Holdings in Hope Bancorp Inc (HOPE)

Gotham Asset Management LLC acquired a new stake in shares of Hope Bancorp Inc (NASDAQ:HOPE) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,144 shares of the financial services provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its holdings in Hope Bancorp by 2.3% during the fourth quarter. Swiss National Bank now owns 216,657 shares of the financial services provider’s stock valued at $3,954,000 after purchasing an additional 4,800 shares during the period. Thrivent Financial For Lutherans bought a new position in Hope Bancorp during the fourth quarter valued at $20,272,000. California Public Employees Retirement System grew its holdings in Hope Bancorp by 4.4% during the third quarter. California Public Employees Retirement System now owns 400,906 shares of the financial services provider’s stock valued at $7,100,000 after purchasing an additional 16,776 shares during the period. Pzena Investment Management LLC grew its holdings in Hope Bancorp by 24.6% during the fourth quarter. Pzena Investment Management LLC now owns 3,026,113 shares of the financial services provider’s stock valued at $55,227,000 after purchasing an additional 596,701 shares during the period. Finally, Maltese Capital Management LLC grew its holdings in Hope Bancorp by 12.6% during the third quarter. Maltese Capital Management LLC now owns 152,000 shares of the financial services provider’s stock valued at $2,692,000 after purchasing an additional 17,000 shares during the period. 83.45% of the stock is owned by institutional investors and hedge funds.

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Several brokerages have weighed in on HOPE. ValuEngine lowered Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Zacks Investment Research lowered Hope Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Piper Jaffray restated a “hold” rating and set a $22.00 target price on shares of Hope Bancorp in a research report on Tuesday, January 9th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $19.92.

In other Hope Bancorp news, EVP Jason K. Kim sold 10,406 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $18.29, for a total transaction of $190,325.74. Following the sale, the executive vice president now owns 42,964 shares in the company, valued at $785,811.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jason K. Kim sold 10,518 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $18.83, for a total value of $198,053.94. Following the sale, the executive vice president now owns 42,964 shares in the company, valued at approximately $809,012.12. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

NASDAQ:HOPE opened at $17.91 on Friday. The firm has a market cap of $2,482.80, a price-to-earnings ratio of 14.68, a P/E/G ratio of 1.16 and a beta of 1.32. Hope Bancorp Inc has a 1 year low of $17.14 and a 1 year high of $19.86. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.65.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $142.84 million for the quarter, compared to the consensus estimate of $139.26 million. Hope Bancorp had a return on equity of 8.71% and a net margin of 21.96%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share. analysts predict that Hope Bancorp Inc will post 1.57 earnings per share for the current fiscal year.

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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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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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