Hope Bancorp, Inc. (HOPE) Shares Bought by Aperio Group LLC
Aperio Group LLC boosted its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 9.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,371 shares of the financial services provider’s stock after buying an additional 5,801 shares during the period. Aperio Group LLC’s holdings in Hope Bancorp were worth $1,201,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in Hope Bancorp by 1.2% in the second quarter. Bank of Montreal Can now owns 10,232 shares of the financial services provider’s stock worth $191,000 after buying an additional 122 shares during the last quarter. 1st Global Advisors Inc. increased its stake in Hope Bancorp by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 10,429 shares of the financial services provider’s stock worth $200,000 after buying an additional 122 shares during the last quarter. TFS Capital LLC purchased a new stake in Hope Bancorp during the first quarter worth approximately $208,000. Shelton Capital Management increased its stake in Hope Bancorp by 15.0% in the first quarter. Shelton Capital Management now owns 11,668 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,519 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new stake in Hope Bancorp during the first quarter worth approximately $239,000. Institutional investors and hedge funds own 80.08% of the company’s stock.
Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) traded down 0.18% during trading on Tuesday, hitting $16.76. 93,183 shares of the stock traded hands. The firm has a 50 day moving average price of $18.03 and a 200-day moving average price of $19.13. Hope Bancorp, Inc. has a one year low of $15.16 and a one year high of $22.99. The company has a market cap of $2.27 billion, a PE ratio of 15.31 and a beta of 1.39.
Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.02. The firm had revenue of $132.94 million for the quarter, compared to the consensus estimate of $136.80 million. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. Analysts anticipate that Hope Bancorp, Inc. will post $1.20 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.10%. This is a positive change from Hope Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, July 27th. Hope Bancorp’s dividend payout ratio (DPR) is currently 47.71%.
Several brokerages recently issued reports on HOPE. FIG Partners downgraded Hope Bancorp from an “outperform” rating to a “market-perform” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, July 12th. Piper Jaffray Companies lowered their price target on Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, May 30th. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of Hope Bancorp in a report on Tuesday, June 27th. Finally, BidaskClub upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Five analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $20.75.
In related news, EVP Jason K. Kim sold 2,750 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $17.70, for a total transaction of $48,675.00. Following the transaction, the executive vice president now directly owns 70,729 shares of the company’s stock, valued at $1,251,903.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by company insiders.
About Hope Bancorp
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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