New York State Teachers Retirement System Sells 7,482 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

New York State Teachers Retirement System reduced its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 261,803 shares of the financial services provider’s stock after selling 7,482 shares during the period. New York State Teachers Retirement System’s holdings in Hope Bancorp were worth $3,163,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Hope Bancorp during the 4th quarter valued at $14,687,000. Goldman Sachs Group Inc. raised its holdings in Hope Bancorp by 89.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,308,837 shares of the financial services provider’s stock worth $31,954,000 after buying an additional 1,092,042 shares during the last quarter. State Street Corp raised its holdings in Hope Bancorp by 7.2% during the first quarter. State Street Corp now owns 7,013,612 shares of the financial services provider’s stock worth $112,779,000 after buying an additional 469,232 shares during the last quarter. Morgan Stanley raised its holdings in Hope Bancorp by 19.9% during the third quarter. Morgan Stanley now owns 2,144,100 shares of the financial services provider’s stock worth $18,975,000 after buying an additional 355,991 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Hope Bancorp by 565.7% during the fourth quarter. Deutsche Bank AG now owns 384,530 shares of the financial services provider’s stock worth $4,926,000 after buying an additional 326,766 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Price Performance

HOPE opened at $10.55 on Tuesday. The firm has a market cap of $1.27 billion, a P/E ratio of 9.42 and a beta of 1.13. The firm has a 50-day moving average of $11.00 and a 200 day moving average of $10.62. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. Hope Bancorp, Inc. has a fifty-two week low of $7.42 and a fifty-two week high of $12.51.

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

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.56 annualized dividend and a yield of 5.31%. Hope Bancorp’s payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HOPE shares. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Wedbush lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.33.

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.