GAMMA Investing LLC Boosts Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

GAMMA Investing LLC increased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1,245.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,283 shares of the financial services provider’s stock after purchasing an additional 40,065 shares during the quarter. GAMMA Investing LLC’s holdings in Hope Bancorp were worth $4,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,553 shares during the period. Sterling Capital Management LLC increased its stake in shares of Hope Bancorp by 819.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider’s stock worth $46,000 after buying an additional 3,309 shares during the period. Cibc World Markets Corp purchased a new position in shares of Hope Bancorp in the fourth quarter worth $133,000. Algert Global LLC purchased a new position in shares of Hope Bancorp in the fourth quarter worth $135,000. Finally, Quantinno Capital Management LP increased its position in shares of Hope Bancorp by 15.2% in the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 1,786 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Price Performance

HOPE opened at $10.59 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a 52-week low of $8.83 and a 52-week high of $14.54. The stock has a market capitalization of $1.36 billion, a PE ratio of 12.91 and a beta of 0.89. The stock’s 50 day moving average price is $9.95 and its 200-day moving average price is $11.12.

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 net margin of 9.95% and a return on equity of 4.84%. During the same period in the previous year, the firm earned $0.23 EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, May 2nd. Hope Bancorp’s dividend payout ratio is currently 71.79%.

Analyst Ratings Changes

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

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.