JCSD Capital LLC Holds Position in Hope Bancorp, Inc. (HOPE)
JCSD Capital LLC continued to hold its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 54,238 shares of the financial services provider’s stock at the end of the second quarter. Hope Bancorp accounts for approximately 1.0% of JCSD Capital LLC’s holdings, making the stock its 22nd largest position. JCSD Capital LLC’s holdings in Hope Bancorp were worth $1,012,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. First Interstate Bank increased its stake in Hope Bancorp by 254.3% in the second quarter. First Interstate Bank now owns 6,395 shares of the financial services provider’s stock worth $119,000 after buying an additional 4,590 shares during the period. 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 period. Teacher Retirement System of Texas increased its stake in Hope Bancorp by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 10,308 shares of the financial services provider’s stock worth $192,000 after buying an additional 55 shares during the period. Connable Office Inc. acquired a new stake in Hope Bancorp during the second quarter worth about $196,000. Finally, 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 period. Institutional investors own 79.47% of the company’s stock.
Shares of Hope Bancorp, Inc. (NASDAQ HOPE) opened at 16.29 on Tuesday. Hope Bancorp, Inc. has a 12-month low of $15.39 and a 12-month high of $22.99. The stock has a 50 day moving average of $17.44 and a 200-day moving average of $18.85. The firm has a market capitalization of $2.20 billion, a P/E ratio of 14.88 and a beta of 1.39.
Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.02. Hope Bancorp had a return on equity of 8.45% and a net margin of 24.38%. The company had revenue of $132.94 million during the quarter, compared to the consensus estimate of $136.80 million. On average, equities research analysts predict that Hope Bancorp, Inc. will post $1.20 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 31st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 3.19%. This is an increase from Hope Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date was Thursday, July 27th. Hope Bancorp’s payout ratio is 47.71%.
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A number of analysts have recently issued reports on the stock. FIG Partners downgraded shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Wednesday, July 12th. Piper Jaffray Companies lowered their price objective on shares of Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 30th. Wedbush reiterated a “neutral” rating and issued a $20.00 price objective on shares of Hope Bancorp in a report on Tuesday, June 27th. Finally, BidaskClub upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Five research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $20.75.
In other Hope Bancorp news, Director Donald Byun sold 101,026 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $16.45, for a total value of $1,661,877.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jason K. Kim sold 2,750 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the sale, the executive vice president now directly owns 70,729 shares in the company, valued at $1,251,903.30. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.
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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