Rhino Investment Partners Inc Has $20.43 Million Holdings in Hope Bancorp, Inc. $HOPE

Rhino Investment Partners Inc lifted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 29.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,896,501 shares of the financial services provider’s stock after purchasing an additional 435,165 shares during the quarter. Hope Bancorp makes up about 6.4% of Rhino Investment Partners Inc’s holdings, making the stock its 3rd biggest position. Rhino Investment Partners Inc owned approximately 1.48% of Hope Bancorp worth $20,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HOPE. Bank of New York Mellon Corp raised its holdings in Hope Bancorp by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 1,739,463 shares of the financial services provider’s stock valued at $18,664,000 after buying an additional 48,394 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Hope Bancorp by 9.4% during the 2nd 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 boosted its stake in shares of Hope Bancorp by 2.4% during the 2nd 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 increased its holdings in shares of Hope Bancorp by 54.2% during the 2nd 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 acquired a new position in shares of Hope Bancorp during the 2nd quarter valued at about $359,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Trading Up 0.4%

Shares of Hope Bancorp stock opened at $10.80 on Friday. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $12.79. The firm has a market capitalization of $1.38 billion, a PE ratio of 23.48 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $11.72 and its two-hundred day moving average price is $11.15.

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

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date was Friday, February 6th. Hope Bancorp’s dividend payout ratio is 121.74%.

Insiders Place Their Bets

In other Hope Bancorp news, Director Daisy Y. Ha sold 31,020 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $12.48, for a total transaction of $387,129.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HOPE has been the subject of several analyst reports. DA Davidson restated a “buy” rating and issued a $14.50 target price on shares of Hope Bancorp in a report on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price target on Hope Bancorp from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Wednesday, January 28th. Zacks Research lowered shares of Hope Bancorp from a “hold” rating to a “strong sell” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hope Bancorp has a consensus rating of “Hold” and a consensus target price of $13.75.

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.