New York State Common Retirement Fund Sells 4,200 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

New York State Common Retirement Fund cut its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 4.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,874 shares of the financial services provider’s stock after selling 4,200 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Hope Bancorp worth $868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Cerity Partners LLC increased its holdings in shares of Hope Bancorp by 14.7% during the first quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,772 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Hope Bancorp by 3.6% during the first quarter. Principal Financial Group Inc. now owns 699,108 shares of the financial services provider’s stock valued at $7,320,000 after acquiring an additional 24,465 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Hope Bancorp during the first quarter valued at $186,000. KBC Group NV increased its holdings in shares of Hope Bancorp by 16.6% during the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,176 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Hope Bancorp during the first quarter valued at $105,000. 84.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $10.41 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.96. Hope Bancorp, Inc. has a one year low of $8.82 and a one year high of $14.53. The stock has a market capitalization of $1.33 billion, a PE ratio of 29.74 and a beta of 0.90. The business’s fifty day moving average is $10.65 and its 200 day moving average is $10.68.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.43). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The business had revenue of $94.58 million for the quarter, compared to analysts’ expectations of $133.90 million. During the same period last year, the business earned $0.22 earnings per share. On average, sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.56 annualized dividend and a yield of 5.38%. Hope Bancorp’s payout ratio is 160.00%.

Hope Bancorp 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.