Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Strs Ohio

Strs Ohio decreased its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 14.6% during the fourth quarter, HoldingsChannel reports. The firm owned 66,600 shares of the financial services provider’s stock after selling 11,400 shares during the quarter. Strs Ohio’s holdings in Hope Bancorp were worth $804,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of HOPE. SG Americas Securities LLC acquired a new position in Hope Bancorp during the 3rd quarter valued at approximately $743,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hope Bancorp by 35.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,700 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 7,040 shares in the last quarter. Assenagon Asset Management S.A. increased its stake 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 valued at $5,333,000 after purchasing an additional 222,506 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in Hope Bancorp during the 3rd quarter valued at approximately $627,000. Finally, Seizert Capital Partners LLC increased its stake in Hope Bancorp by 3.1% during the 3rd quarter. Seizert Capital Partners LLC now owns 168,014 shares of the financial services provider’s stock valued at $1,487,000 after purchasing an additional 4,974 shares in 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 reports. Wedbush cut their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, Hope Bancorp presently has a consensus rating of “Hold” and a consensus target price of $11.33.

Hope Bancorp Stock Up 0.6 %

NASDAQ:HOPE opened at $11.07 on Thursday. The firm has a market capitalization of $1.34 billion, a P/E ratio of 9.88 and a beta of 1.13. Hope Bancorp, Inc. has a 1-year low of $7.42 and a 1-year high of $12.51. The company’s fifty day moving average price is $10.97 and its 200-day moving average price is $10.70. 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 (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $135.20 million for the quarter, compared to analyst estimates 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 prior year, the business posted $0.43 EPS. As a group, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company 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 5.06%. Hope Bancorp’s dividend payout ratio is presently 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.