US Bancorp DE Acquires 17,903 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

US Bancorp DE raised its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 2,878.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,525 shares of the financial services provider’s stock after purchasing an additional 17,903 shares during the period. US Bancorp DE’s holdings in Hope Bancorp were worth $194,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOPE. Rhino Investment Partners Inc raised its position 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 valued at $20,707,000 after purchasing an additional 601,876 shares during the last quarter. Invesco Ltd. raised its position in shares of Hope Bancorp by 72.8% in the 4th quarter. Invesco Ltd. now owns 1,339,171 shares of the financial services provider’s stock worth $16,458,000 after acquiring an additional 564,014 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Hope Bancorp in the 4th quarter worth approximately $2,945,000. Northern Trust Corp raised its position in shares of Hope Bancorp by 18.6% in the 4th quarter. Northern Trust Corp now owns 1,491,628 shares of the financial services provider’s stock worth $18,332,000 after acquiring an additional 234,191 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Hope Bancorp by 211.7% in the 4th quarter. Millennium Management LLC now owns 199,159 shares of the financial services provider’s stock worth $2,448,000 after acquiring an additional 135,267 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Down 2.4%

Shares of NASDAQ:HOPE opened at $10.30 on Friday. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $14.53. The firm has a market capitalization of $1.32 billion, a P/E ratio of 29.43 and a beta of 0.94. The stock has a 50 day moving average price of $10.65 and a 200-day moving average price of $10.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.96 and a current ratio of 0.94.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.43). Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%. The firm had revenue of $94.58 million during the quarter, compared to the consensus estimate of $133.90 million. During the same period in the prior year, the company posted $0.22 EPS. As a group, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.14 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.4%. Hope Bancorp’s dividend payout ratio is presently 160.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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.