LSV Asset Management Lowers Position in Hope Bancorp, Inc. $HOPE

LSV Asset Management cut its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,486,600 shares of the financial services provider’s stock after selling 44,600 shares during the quarter. LSV Asset Management’s holdings in Hope Bancorp were worth $16,293,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Hope Bancorp during the 4th quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its holdings in Hope Bancorp by 9.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock worth $128,000 after buying an additional 960 shares during the period. Versor Investments LP lifted its holdings in Hope Bancorp by 58.6% in the 4th quarter. Versor Investments LP now owns 62,500 shares of the financial services provider’s stock worth $685,000 after buying an additional 23,100 shares during the period. Bailard Inc. lifted its holdings in Hope Bancorp by 95.6% in the 4th quarter. Bailard Inc. now owns 68,452 shares of the financial services provider’s stock worth $750,000 after buying an additional 33,464 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in Hope Bancorp in the 4th quarter worth approximately $29,000. 84.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hope Bancorp news, Director Daisy Y. Ha sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total transaction of $150,360.00. Following the sale, the director directly owned 373,115 shares of the company’s stock, valued at $4,675,130.95. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. DA Davidson raised their target price on Hope Bancorp from $14.50 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Weiss Ratings cut Hope Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Brean Capital raised Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Hope Bancorp currently has an average rating of “Hold” and a consensus price target of $14.50.

Hope Bancorp Price Performance

Shares of Hope Bancorp stock opened at $12.38 on Tuesday. The stock’s 50-day simple moving average is $11.92 and its 200-day simple moving average is $11.53. Hope Bancorp, Inc. has a 52 week low of $9.44 and a 52 week high of $13.02. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 23.81 and a beta of 0.84. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.01. The company had revenue of $133.82 million for the quarter, compared to the consensus estimate of $145.30 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. As a group, analysts expect that Hope Bancorp, Inc. will post 1.13 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, May 8th. Hope Bancorp’s payout ratio is presently 107.69%.

Hope Bancorp 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.