American Century Companies Inc. Acquires 118,013 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

American Century Companies Inc. grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 13.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 981,556 shares of the financial services provider’s stock after acquiring an additional 118,013 shares during the quarter. American Century Companies Inc. owned 0.82% of Hope Bancorp worth $9,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Rhumbline Advisers boosted its position in shares of Hope Bancorp by 3.9% in the first quarter. Rhumbline Advisers now owns 413,217 shares of the financial services provider’s stock valued at $4,058,000 after acquiring an additional 15,533 shares during the period. MAI Capital Management bought a new stake in shares of Hope Bancorp in the first quarter valued at approximately $189,000. Credit Suisse AG boosted its position in shares of Hope Bancorp by 4.5% in the first quarter. Credit Suisse AG now owns 105,545 shares of the financial services provider’s stock valued at $1,036,000 after acquiring an additional 4,527 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Hope Bancorp by 1,447.5% in the first quarter. Tower Research Capital LLC TRC now owns 13,757 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 12,868 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Hope Bancorp by 378.7% in the first quarter. Boston Partners now owns 945,170 shares of the financial services provider’s stock valued at $9,116,000 after purchasing an additional 747,719 shares in the last quarter. 83.62% of the stock is owned by institutional investors.

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $9.88 on Monday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.09 and a quick ratio of 1.08. The stock has a fifty day moving average price of $9.58 and a two-hundred day moving average price of $9.72. Hope Bancorp, Inc. has a 52-week low of $7.42 and a 52-week high of $14.81. The firm has a market capitalization of $1.19 billion, a P/E ratio of 6.46 and a beta of 1.20.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, July 24th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Hope Bancorp had a return on equity of 8.99% and a net margin of 18.78%. The firm had revenue of $147.70 million during the quarter, compared to analyst estimates of $141.07 million. During the same period in the prior year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, analysts anticipate that Hope Bancorp, Inc. will post 1.21 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $0.56 annualized dividend and a yield of 5.67%. Hope Bancorp’s dividend payout ratio is currently 36.60%.

Insiders Place Their Bets

In related news, EVP Thomas Stenger sold 3,418 shares of Hope Bancorp stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $9.20, for a total value of $31,445.60. Following the completion of the transaction, the executive vice president now directly owns 35,200 shares of the company’s stock, valued at $323,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HOPE. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. DA Davidson upped their target price on Hope Bancorp from $9.50 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods upped their target price on Hope Bancorp from $10.00 to $11.00 and gave the company a “market perform” rating in a research note on Tuesday, July 25th. Finally, TheStreet upgraded Hope Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, August 14th.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. Its loan products include commercial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, and other business-related financing needs; real estate loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, auto, credit card, and personal loans.