AQR Capital Management LLC Has $5.03 Million Stake in Hope Bancorp, Inc. $HOPE

AQR Capital Management LLC grew its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,419 shares of the financial services provider’s stock after acquiring an additional 7,358 shares during the quarter. AQR Capital Management LLC owned 0.40% of Hope Bancorp worth $5,030,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HOPE. Wellington Management Group LLP raised its stake in Hope Bancorp by 43.4% during the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock worth $64,934,000 after acquiring an additional 1,877,820 shares in the last quarter. Nuveen LLC acquired a new position in Hope Bancorp during the first quarter worth about $3,451,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Hope Bancorp during the fourth quarter worth about $2,945,000. American Century Companies Inc. raised its stake in Hope Bancorp by 7.7% during the first quarter. American Century Companies Inc. now owns 2,749,086 shares of the financial services provider’s stock worth $28,783,000 after acquiring an additional 196,172 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Hope Bancorp by 211.7% during the fourth 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 and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Hope Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.25.

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $10.94 on Friday. The business has a 50 day moving average of $10.79 and a 200-day moving average of $10.43. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $14.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $1.40 billion, a P/E ratio of 31.26 and a beta of 0.97.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data 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 net margin of 4.27% and a return on equity of 4.45%. The firm had revenue of $94.58 million during the quarter, compared to analyst estimates of $133.90 million. During the same period in the prior year, the company earned $0.22 EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. Hope Bancorp’s dividend payout ratio is currently 160.00%.

Insider Activity

In other news, EVP Angelee Harris sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total value of $38,570.00. Following the completion of the transaction, the executive vice president owned 24,241 shares of the company’s stock, valued at $267,135.82. This represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.16% of the stock is owned by corporate insiders.

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.