Hope Bancorp, Inc. $HOPE Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 53.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 158,456 shares of the financial services provider’s stock after buying an additional 55,401 shares during the quarter. Quantinno Capital Management LP’s holdings in Hope Bancorp were worth $1,770,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. HoldCo Asset Management LP purchased a new stake in Hope Bancorp in the fourth quarter valued at approximately $32,838,000. Millennium Management LLC grew its position in shares of Hope Bancorp by 366.8% during the third quarter. Millennium Management LLC now owns 1,340,635 shares of the financial services provider’s stock worth $14,439,000 after acquiring an additional 1,053,434 shares during the last quarter. UBS Group AG grew its position in shares of Hope Bancorp by 73.5% during the fourth quarter. UBS Group AG now owns 1,972,716 shares of the financial services provider’s stock worth $21,621,000 after acquiring an additional 835,814 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Hope Bancorp by 44.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,310,967 shares of the financial services provider’s stock valued at $14,368,000 after acquiring an additional 404,505 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Hope Bancorp by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider’s stock valued at $82,298,000 after acquiring an additional 315,028 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director Daisy Y. Ha sold 26,995 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the completion of the transaction, the director owned 346,120 shares in the company, valued at approximately $4,928,748.80. This represents a 7.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.27% of the company’s stock.

Hope Bancorp Trading Up 1.7%

Shares of HOPE stock opened at $14.24 on Wednesday. The business’s 50 day moving average is $13.46 and its two-hundred day moving average is $12.46. Hope Bancorp, Inc. has a twelve month low of $9.80 and a twelve month high of $14.48. The company has a market capitalization of $1.82 billion, a P/E ratio of 14.24 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The business had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. Equities analysts forecast that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, August 6th. Hope Bancorp’s dividend payout ratio (DPR) is 56.00%.

Analyst Ratings Changes

Several analysts recently commented on the stock. DA Davidson upped their price target on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

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.