Hope Bancorp, Inc. $HOPE Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 88.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,448 shares of the financial services provider’s stock after selling 80,068 shares during the quarter. Edgestream Partners L.P.’s holdings in Hope Bancorp were worth $117,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HOPE. Global Retirement Partners LLC acquired a new stake in Hope Bancorp in the 4th quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of Hope Bancorp during the fourth quarter worth $29,000. Geneos Wealth Management Inc. boosted its position in shares of Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after buying an additional 2,558 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Hope Bancorp by 375.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after buying an additional 2,862 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after buying an additional 3,071 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HOPE has been the subject of a number of research analyst reports. DA Davidson raised their target price on Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Weiss Ratings raised shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.50.

Insider Activity at Hope Bancorp

In related news, Director Daisy Y. Ha sold 26,995 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the completion of the transaction, the director owned 346,120 shares in the company, valued at approximately $4,928,748.80. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.27% of the company’s stock.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock opened at $13.95 on Friday. The business has a 50-day simple moving average of $13.37 and a 200-day simple moving average of $12.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.96 and a current ratio of 0.98. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.48. The company has a market cap of $1.78 billion, a PE ratio of 13.95 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last issued its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The firm had revenue of $147.82 million for the quarter, compared to analysts’ expectations of $146.50 million. During the same quarter last year, the company earned ($0.22) earnings per share. On average, equities research analysts forecast that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, August 6th. Hope Bancorp’s payout ratio is 56.00%.

Hope Bancorp Company Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.