Alpha Omega Wealth Management LLC Acquires 7,427 Shares of Hope Bancorp Inc (HOPE)
Alpha Omega Wealth Management LLC lifted its holdings in Hope Bancorp Inc (NASDAQ:HOPE) by 5.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 148,723 shares of the financial services provider’s stock after acquiring an additional 7,427 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Hope Bancorp were worth $2,714,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its holdings in Hope Bancorp by 12.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock valued at $151,931,000 after buying an additional 960,796 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Hope Bancorp by 14.8% during the 3rd quarter. Principal Financial Group Inc. now owns 4,457,274 shares of the financial services provider’s stock valued at $78,939,000 after buying an additional 576,268 shares during the last quarter. Phocas Financial Corp. bought a new stake in Hope Bancorp during the 2nd quarter valued at $10,205,000. LSV Asset Management raised its holdings in Hope Bancorp by 52.3% during the 4th quarter. LSV Asset Management now owns 1,487,977 shares of the financial services provider’s stock valued at $27,155,000 after buying an additional 510,674 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Hope Bancorp during the 4th quarter valued at $6,011,000. Hedge funds and other institutional investors own 80.71% of the company’s stock.
A number of equities research analysts recently commented on the stock. ValuEngine lowered shares of Hope Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.50 price target on shares of Hope Bancorp in a report on Thursday, October 26th. Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a report on Thursday, November 2nd. Piper Jaffray Companies reiterated a “hold” rating and set a $22.00 price target on shares of Hope Bancorp in a report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, December 26th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Hope Bancorp presently has an average rating of “Hold” and an average target price of $19.92.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The business had revenue of $142.84 million for the quarter, compared to the consensus estimate of $139.26 million. Hope Bancorp had a net margin of 21.96% and a return on equity of 8.71%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 EPS. equities research analysts predict that Hope Bancorp Inc will post 1.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 19th. Shareholders of record on Monday, February 5th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Friday, February 2nd. Hope Bancorp’s payout ratio is currently 50.49%.
In other Hope Bancorp news, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $19.25, for a total transaction of $57,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven Koh sold 47,833 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $19.22, for a total transaction of $919,350.26. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,833 shares of company stock worth $1,156,600. Insiders own 5.20% of the company’s stock.
Hope Bancorp Profile
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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