Sequoia Financial Advisors LLC Cuts Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Sequoia Financial Advisors LLC reduced its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,347 shares of the financial services provider’s stock after selling 1,085 shares during the period. Sequoia Financial Advisors LLC’s holdings in Hope Bancorp were worth $161,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HOPE. Rhino Investment Partners Inc increased its stake in Hope Bancorp by 55.6% during the 4th quarter. Rhino Investment Partners Inc now owns 1,684,886 shares of the financial services provider’s stock worth $20,707,000 after buying an additional 601,876 shares in the last quarter. Invesco Ltd. grew its position in shares of Hope Bancorp by 72.8% in the fourth quarter. Invesco Ltd. now owns 1,339,171 shares of the financial services provider’s stock valued at $16,458,000 after purchasing an additional 564,014 shares in the last quarter. Norges Bank purchased a new stake in shares of Hope Bancorp in the fourth quarter valued at approximately $4,001,000. American Century Companies Inc. grew its position in shares of Hope Bancorp by 12.5% in the fourth quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider’s stock valued at $31,375,000 after purchasing an additional 283,514 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Hope Bancorp by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider’s stock valued at $22,100,000 after purchasing an additional 240,192 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

HOPE stock opened at $11.56 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $10.35 and a 200-day simple moving average of $10.78. The firm has a market capitalization of $1.48 billion, a PE ratio of 14.81 and a beta of 0.90. Hope Bancorp, Inc. has a 1 year low of $8.83 and a 1 year high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $217.17 million during the quarter, compared to analyst estimates of $114.97 million. Hope Bancorp had a return on equity of 4.60% and a net margin of 9.82%. During the same period in the prior year, the business posted $0.23 earnings per share. Equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given 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 4.85%. Hope Bancorp’s payout ratio is 71.79%.

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.