Rhumbline Advisers Buys 4,935 Shares of Hope Bancorp Inc (HOPE)
Rhumbline Advisers grew its stake in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 345,307 shares of the financial services provider’s stock after buying an additional 4,935 shares during the quarter. Rhumbline Advisers owned 0.25% of Hope Bancorp worth $6,157,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in HOPE. Pzena Investment Management LLC raised its holdings in Hope Bancorp by 4.5% in the 2nd quarter. Pzena Investment Management LLC now owns 3,018,616 shares of the financial services provider’s stock worth $53,822,000 after acquiring an additional 131,235 shares during the last quarter. Gator Capital Management LLC bought a new stake in Hope Bancorp in the 2nd quarter worth approximately $267,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Hope Bancorp in the 2nd quarter worth approximately $486,000. IndexIQ Advisors LLC grew its position in Hope Bancorp by 8.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 120,251 shares of the financial services provider’s stock worth $2,144,000 after purchasing an additional 9,330 shares during the period. Finally, First Trust Advisors LP grew its position in Hope Bancorp by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 248,870 shares of the financial services provider’s stock worth $4,437,000 after purchasing an additional 9,795 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Donald Byun sold 40,456 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $17.84, for a total transaction of $721,735.04. Following the completion of the sale, the director now owns 35,170 shares of the company’s stock, valued at approximately $627,432.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Lee Song sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $17.75, for a total transaction of $88,750.00. Following the sale, the executive vice president now directly owns 4,023 shares of the company’s stock, valued at approximately $71,408.25. The disclosure for this sale can be found here. Insiders own 5.06% of the company’s stock.
Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, July 17th. The financial services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Hope Bancorp had a return on equity of 9.68% and a net margin of 23.76%. The company had revenue of $138.09 million during the quarter, compared to the consensus estimate of $139.60 million. During the same period last year, the firm posted $0.30 EPS. sell-side analysts forecast that Hope Bancorp Inc will post 1.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Stockholders of record on Friday, July 27th were given a dividend of $0.14 per share. This is an increase from Hope Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, July 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.22%. Hope Bancorp’s payout ratio is presently 45.90%.
HOPE has been the subject of a number of research analyst reports. ValuEngine downgraded shares of Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, June 11th. DA Davidson downgraded shares of Hope Bancorp from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Wednesday, May 30th. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $18.00 target price (down previously from $19.00) on shares of Hope Bancorp in a research report on Monday, July 16th. Eight equities research analysts have rated the stock with a hold rating, Hope Bancorp currently has an average rating of “Hold” and a consensus price target of $19.42.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
Further Reading: Calculate Your Return on Investment (ROI)
Receive News & Ratings for Hope Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hope Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.