Illinois Municipal Retirement Fund Has $805,000 Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Illinois Municipal Retirement Fund cut its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,625 shares of the financial services provider’s stock after selling 4,220 shares during the period. Illinois Municipal Retirement Fund’s holdings in Hope Bancorp were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HOPE. SG Americas Securities LLC bought a new position in Hope Bancorp during the 3rd quarter valued at about $743,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hope Bancorp by 35.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,700 shares of the financial services provider’s stock valued at $236,000 after acquiring an additional 7,040 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Hope Bancorp by 58.5% in 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 in the last quarter. Seizert Capital Partners LLC grew its position 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 worth $1,487,000 after acquiring an additional 4,974 shares during the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Hope Bancorp by 9.1% during the 3rd quarter. New York State Common Retirement Fund now owns 247,363 shares of the financial services provider’s stock valued at $2,189,000 after purchasing an additional 20,735 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

HOPE stock opened at $9.93 on Tuesday. The company has a 50 day moving average price of $10.92 and a 200 day moving average price of $10.75. Hope Bancorp, Inc. has a fifty-two week low of $7.42 and a fifty-two week high of $12.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $1.20 billion, a PE ratio of 8.86 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 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 firm had revenue of $135.20 million during the quarter, compared to analyst estimates of $138.47 million. During the same period last year, the business posted $0.43 earnings per share. Analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on HOPE shares. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Wedbush reduced their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Four research 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 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.