Hussman Strategic Advisors Inc. Makes New $676,000 Investment in Hope Bancorp, Inc. $HOPE

Hussman Strategic Advisors Inc. acquired a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 63,000 shares of the financial services provider’s stock, valued at approximately $676,000.

Other large investors have also made changes to their positions in the company. CKW Financial Group acquired a new position in shares of Hope Bancorp during the second quarter valued at $32,000. Geneos Wealth Management Inc. lifted its stake in shares of Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 2,558 shares during the period. GAMMA Investing LLC lifted its stake in shares of Hope Bancorp by 29.3% during the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 1,211 shares during the period. KBC Group NV lifted its stake in shares of Hope Bancorp by 16.6% during the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,176 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hope Bancorp during the first quarter valued at $105,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity

In other Hope Bancorp news, EVP Angelee Harris sold 3,500 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total value of $38,570.00. Following the completion of the sale, the executive vice president directly owned 24,241 shares in the company, valued at $267,135.82. This represents a 12.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HOPE shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hope Bancorp in a research note on Wednesday, October 8th. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 24th. Finally, DA Davidson set a $14.50 price target on Hope Bancorp in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.25.

Hope Bancorp Trading Down 1.4%

NASDAQ:HOPE opened at $10.41 on Wednesday. Hope Bancorp, Inc. has a 1-year low of $8.82 and a 1-year high of $14.53. The business’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $10.59. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 26.69 and a beta of 0.92.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, October 28th. The financial services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Hope Bancorp had a net margin of 4.89% and a return on equity of 4.70%. The company had revenue of $142.03 million during the quarter, compared to analyst estimates of $138.87 million. During the same period in the previous year, the company posted $0.21 EPS. On average, equities analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, November 7th. Hope Bancorp’s dividend payout ratio is 143.59%.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. The company also offers loans comprising commercial and industrial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance, other business-related financing, and loans syndication services; commercial real estate loans; residential mortgage loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, automobile, credit card, and personal loans.