BBCN Bancorp Inc. (HOPE) Short Interest Down 24.8% in November
BBCN Bancorp Inc. (NASDAQ:HOPE) saw a large decrease in short interest in November. As of November 15th, there was short interest totalling 2,386,541 shares, a decrease of 24.8% from the October 31st total of 3,171,967 shares. Based on an average trading volume of 847,257 shares, the short-interest ratio is presently 2.8 days. Approximately 1.9% of the shares of the stock are short sold.
BBCN Bancorp (NASDAQ:HOPE) opened at 19.97 on Wednesday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 18.54 and a beta of 1.17. The firm has a 50-day moving average of $17.46 and a 200 day moving average of $16.41. BBCN Bancorp has a 12-month low of $13.59 and a 12-month high of $20.49.
BBCN Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, October 18th. The financial services provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.10. BBCN Bancorp had a return on equity of 9.30% and a net margin of 23.18%. During the same quarter last year, the firm posted $0.32 earnings per share. On average, equities analysts predict that BBCN Bancorp will post $1.22 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 11th. Stockholders of record on Friday, October 28th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, October 26th. BBCN Bancorp’s dividend payout ratio (DPR) is presently 43.64%.
Separately, Zacks Investment Research cut shares of BBCN Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 21st.
Several hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC purchased a new stake in BBCN Bancorp during the third quarter valued at approximately $101,000. First Mercantile Trust Co. bought a new stake in shares of BBCN Bancorp during the third quarter valued at approximately $119,000. Strs Ohio bought a new stake in shares of BBCN Bancorp during the third quarter valued at approximately $142,000. 1st Global Advisors Inc. bought a new stake in shares of BBCN Bancorp during the third quarter valued at approximately $188,000. Finally, SG Americas Securities LLC bought a new stake in shares of BBCN Bancorp during the third quarter valued at approximately $210,000. Institutional investors own 79.01% of the company’s stock.
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About BBCN 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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