Teacher Retirement System of Texas Takes Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Teacher Retirement System of Texas bought a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 17,749 shares of the financial services provider’s stock, valued at approximately $186,000.

Other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Hope Bancorp during the 1st quarter valued at $105,000. Deutsche Bank AG lifted its position in shares of Hope Bancorp by 49.4% during the 4th quarter. Deutsche Bank AG now owns 101,614 shares of the financial services provider’s stock worth $1,249,000 after buying an additional 33,585 shares during the last quarter. KBC Group NV lifted its position in shares of Hope Bancorp by 16.6% during the 1st quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,176 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Hope Bancorp by 1,245.0% during the 1st quarter. GAMMA Investing LLC now owns 43,283 shares of the financial services provider’s stock worth $4,134,000 after buying an additional 40,065 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Hope Bancorp by 211.7% during the 4th quarter. Millennium Management LLC now owns 199,159 shares of the financial services provider’s stock worth $2,448,000 after buying an additional 135,267 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Hope Bancorp Stock Down 0.6%

Shares of Hope Bancorp stock opened at $11.39 on Monday. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. 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 stock’s 50-day moving average is $10.63 and its 200 day moving average is $10.70. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 14.60 and a beta of 0.90.

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

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.