Millennium Management LLC Purchases 135,267 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Millennium Management LLC increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 211.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,159 shares of the financial services provider’s stock after acquiring an additional 135,267 shares during the period. Millennium Management LLC owned about 0.16% of Hope Bancorp worth $2,448,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cresset Asset Management LLC grew its holdings in Hope Bancorp by 0.8% during the fourth quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider’s stock valued at $1,459,000 after purchasing an additional 977 shares during the period. Smartleaf Asset Management LLC grew its holdings in Hope Bancorp by 181.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,553 shares during the period. Legal & General Group Plc grew its holdings in Hope Bancorp by 0.5% during the fourth quarter. Legal & General Group Plc now owns 339,560 shares of the financial services provider’s stock valued at $4,173,000 after purchasing an additional 1,560 shares during the period. KBC Group NV lifted its position in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,901 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hope Bancorp by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,931 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 2,260 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, May 12th.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $10.10 on Monday. Hope Bancorp, Inc. has a 12 month low of $8.83 and a 12 month high of $14.54. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average is $9.98 and its 200 day moving average is $11.27. The company has a market capitalization of $1.29 billion, a P/E ratio of 12.32 and a beta of 0.88.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $217.17 million for the quarter, compared to the consensus estimate of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same period in the prior year, the business posted $0.23 earnings per share. On average, equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.56 annualized dividend and a yield of 5.54%. Hope Bancorp’s dividend payout ratio (DPR) is currently 71.79%.

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.