Y Intercept Hong Kong Ltd Takes Position in Hope Bancorp, Inc. $HOPE

Y Intercept Hong Kong Ltd acquired a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 73,124 shares of the financial services provider’s stock, valued at approximately $788,000.

A number of other hedge funds have also added to or reduced their stakes in HOPE. Bank of New York Mellon Corp increased its position in shares of Hope Bancorp by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,739,463 shares of the financial services provider’s stock worth $18,664,000 after purchasing an additional 48,394 shares during the last quarter. American Century Companies Inc. raised its position in Hope Bancorp by 9.4% during the second quarter. American Century Companies Inc. now owns 3,006,877 shares of the financial services provider’s stock worth $32,264,000 after acquiring an additional 257,791 shares in the last quarter. Geode Capital Management LLC raised its position in Hope Bancorp by 2.4% during the second quarter. Geode Capital Management LLC now owns 2,986,576 shares of the financial services provider’s stock worth $32,050,000 after acquiring an additional 68,620 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Hope Bancorp by 54.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 877,835 shares of the financial services provider’s stock valued at $9,419,000 after acquiring an additional 308,646 shares during the last quarter. Finally, Savant Capital LLC bought a new position in shares of Hope Bancorp in the 2nd quarter valued at about $359,000. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

HOPE has been the subject of several recent analyst reports. DA Davidson reiterated a “buy” rating and issued a $14.50 target price on shares of Hope Bancorp in a research note on Wednesday, January 28th. Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 28th. Finally, Wall Street Zen upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.75.

Hope Bancorp Trading Up 1.9%

Shares of NASDAQ:HOPE opened at $12.21 on Tuesday. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $12.38. The business has a 50 day moving average of $11.37 and a 200-day moving average of $10.88. The company has a quick ratio of 0.94, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.57 billion, a PE ratio of 26.54 and a beta of 0.87.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, January 27th. The financial services provider reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.09% and a net margin of 5.81%.The business had revenue of $145.76 million during the quarter, compared to analysts’ expectations of $142.90 million. During the same period last year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 4.6%. Hope Bancorp’s dividend payout ratio (DPR) is currently 121.74%.

Insider Buying and Selling

In other Hope Bancorp news, Director David P. Malone sold 20,820 shares of Hope Bancorp stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.50, for a total value of $239,430.00. Following the completion of the transaction, the director directly owned 66,658 shares of the company’s stock, valued at $766,567. The trade was a 23.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 26,787 shares of company stock worth $303,917. 5.16% of the stock is owned by company insiders.

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.