Sequoia Financial Advisors LLC Has $387,000 Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Sequoia Financial Advisors LLC boosted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 88.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,072 shares of the financial services provider’s stock after buying an additional 15,094 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Hope Bancorp were worth $387,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its position in Hope Bancorp by 51.3% during the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock worth $63,000 after buying an additional 1,313 shares during the last quarter. Royal Bank of Canada increased its position in Hope Bancorp by 67.9% during the third quarter. Royal Bank of Canada now owns 4,092 shares of the financial services provider’s stock worth $51,000 after buying an additional 1,655 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Hope Bancorp by 132.8% during the third quarter. Tower Research Capital LLC TRC now owns 6,008 shares of the financial services provider’s stock worth $53,000 after buying an additional 3,427 shares during the last quarter. Jane Street Group LLC acquired a new position in Hope Bancorp during the first quarter worth $163,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Hope Bancorp in the second quarter valued at about $142,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Trading Down 0.4 %

Shares of NASDAQ:HOPE opened at $10.28 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day moving average is $10.98 and its 200-day moving average is $10.63. Hope Bancorp, Inc. has a 52-week low of $7.42 and a 52-week high of $12.51. The company has a market cap of $1.24 billion, a P/E ratio of 9.18 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last released its 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). Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The company had revenue of $135.20 million during the quarter, compared to the consensus estimate of $138.47 million. During the same quarter in the previous year, the business posted $0.43 EPS. Equities research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Thursday, February 8th. Hope Bancorp’s payout ratio is presently 50.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HOPE. Wedbush lowered their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.33.

Hope Bancorp 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.