Sei Investments Co. Boosts Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Sei Investments Co. increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 249,235 shares of the financial services provider’s stock after buying an additional 14,509 shares during the period. Sei Investments Co. owned 0.21% of Hope Bancorp worth $3,063,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its position in Hope Bancorp by 1.9% during the third quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after acquiring an additional 112,824 shares during the period. Wellington Management Group LLP boosted its stake in Hope Bancorp by 30.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after purchasing an additional 1,054,124 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hope Bancorp by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock worth $35,703,000 after purchasing an additional 48,237 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Hope Bancorp by 12.5% during the fourth quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider’s stock worth $31,375,000 after buying an additional 283,514 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hope Bancorp by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,374,629 shares of the financial services provider’s stock valued at $29,184,000 after buying an additional 28,414 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the transaction, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Down 8.3 %

NASDAQ:HOPE opened at $9.64 on Friday. Hope Bancorp, Inc. has a 52 week low of $9.64 and a 52 week high of $14.54. The stock’s fifty day moving average is $10.96 and its two-hundred day moving average is $12.14. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.76 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. Research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio is currently 68.29%.

Analyst Ratings Changes

Several analysts have issued reports on the company. DA Davidson dropped their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Piper Sandler dropped their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hope Bancorp currently has an average rating of “Hold” and a consensus target price of $12.88.

About Hope Bancorp

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.