Intech Investment Management LLC Acquires 42,710 Shares of Hope Bancorp, Inc. $HOPE

Intech Investment Management LLC grew its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 31.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,490 shares of the financial services provider’s stock after acquiring an additional 42,710 shares during the quarter. Intech Investment Management LLC owned about 0.14% of Hope Bancorp worth $1,869,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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. Wealth Enhancement Advisory Services LLC bought a new position in shares of Hope Bancorp during the first quarter valued at $105,000. Entropy Technologies LP bought a new position in shares of Hope Bancorp during the first quarter valued at $110,000. Quantinno Capital Management LP increased its holdings in shares of Hope Bancorp by 15.2% during the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider’s stock valued at $166,000 after acquiring an additional 1,786 shares in the last quarter. Finally, 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. 84.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Hope Bancorp Trading Down 1.2%

Hope Bancorp stock opened at $10.75 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. 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 $1.38 billion, a PE ratio of 30.71 and a beta of 0.97. The business’s fifty day moving average is $10.77 and its 200 day moving average is $10.42.

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). The business had revenue of $94.58 million for the quarter, compared to analysts’ expectations of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp’s dividend payout ratio (DPR) is presently 160.00%.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, EVP Angelee Harris sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total value of $38,570.00. Following the transaction, the executive vice president directly owned 24,241 shares of the company’s stock, valued at approximately $267,135.82. This trade represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 7,102 shares of company stock valued at $76,068 over the last 90 days. Company insiders own 5.16% of the company’s stock.

About Hope Bancorp

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.