Hope Bancorp, Inc. (NASDAQ:HOPE) Stock Holdings Trimmed by LSV Asset Management

LSV Asset Management lowered its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,598,700 shares of the financial services provider’s stock after selling 155,100 shares during the period. LSV Asset Management’s holdings in Hope Bancorp were worth $31,392,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. bought a new stake in Hope Bancorp during the 3rd quarter valued at $132,000. Everhart Financial Group Inc. bought a new stake in shares of Hope Bancorp in the 4th quarter worth $197,000. EMC Capital Management raised its stake in shares of Hope Bancorp by 57.9% in the 3rd quarter. EMC Capital Management now owns 23,066 shares of the financial services provider’s stock worth $204,000 after buying an additional 8,460 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hope Bancorp by 35.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,700 shares of the financial services provider’s stock worth $236,000 after buying an additional 7,040 shares in the last quarter. Finally, WBI Investments Inc. raised its stake in shares of Hope Bancorp by 10.4% in the 3rd quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider’s stock worth $335,000 after buying an additional 3,566 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of NASDAQ HOPE opened at $10.84 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 10.84 and a beta of 1.15. The stock’s fifty day simple moving average is $10.87 and its 200 day simple moving average is $10.78. Hope Bancorp, Inc. has a 52-week low of $7.42 and a 52-week high of $12.51.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, April 29th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The company had revenue of $123.30 million during the quarter, compared to analyst estimates of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The business’s revenue was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 earnings per share. As a group, sell-side analysts forecast that Hope Bancorp, Inc. will post 0.98 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.14 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.17%. Hope Bancorp’s dividend payout ratio is 56.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush dropped their price objective on Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective on the stock in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods dropped their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Hope Bancorp has a consensus rating of “Hold” and an average target price of $11.83.

Hope Bancorp Company 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.