10,112 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Purchased by Drive Wealth Management LLC

Drive Wealth Management LLC bought a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 10,112 shares of the financial services provider’s stock, valued at approximately $116,000.

Other hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Hope Bancorp during the 4th quarter worth about $9,960,000. AQR Capital Management LLC grew its holdings in Hope Bancorp by 70.5% during the 3rd quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider’s stock worth $6,761,000 after acquiring an additional 315,935 shares during the last quarter. Boston Partners grew its holdings in Hope Bancorp by 32.5% during the 3rd quarter. Boston Partners now owns 1,216,170 shares of the financial services provider’s stock worth $10,742,000 after acquiring an additional 298,349 shares during the last quarter. Wellington Management Group LLP bought a new stake in Hope Bancorp during the 4th quarter worth about $2,977,000. Finally, Assenagon Asset Management S.A. grew its holdings in Hope Bancorp by 58.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 602,634 shares of the financial services provider’s stock worth $5,333,000 after acquiring an additional 222,506 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

HOPE has been the topic of a number of research analyst reports. Wedbush decreased their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.33.

Hope Bancorp Trading Down 0.1 %

Shares of NASDAQ HOPE traded down $0.01 during mid-day trading on Friday, hitting $10.96. The company’s stock had a trading volume of 413,508 shares, compared to its average volume of 507,283. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 9.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. Hope Bancorp, Inc. has a one year low of $7.42 and a one year high of $12.51. The company’s fifty day simple moving average is $10.95 and its 200-day simple moving average is $10.74.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The business had revenue of $135.20 million during the quarter, compared to the consensus estimate of $138.47 million. During the same period last year, the business posted $0.43 EPS. On average, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.11%. The ex-dividend date of this dividend was Thursday, February 8th. Hope Bancorp’s payout ratio is 50.00%.

Hope Bancorp Company 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.