Y Intercept Hong Kong Ltd Takes $788,000 Position in Hope Bancorp, Inc. $HOPE

Y Intercept Hong Kong Ltd purchased a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 73,124 shares of the financial services provider’s stock, valued at approximately $788,000. Y Intercept Hong Kong Ltd owned about 0.06% of Hope Bancorp at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HOPE. CKW Financial Group acquired a new stake in Hope Bancorp during the 2nd quarter worth $32,000. Geneos Wealth Management Inc. boosted its position in shares of Hope Bancorp by 294.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 2,558 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Hope Bancorp by 61.0% during the third quarter. Versant Capital Management Inc now owns 3,968 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 1,503 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,071 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Hope Bancorp in the third quarter valued at about $97,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hope Bancorp

In other Hope Bancorp news, Director David P. Malone sold 20,820 shares of Hope Bancorp stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $11.50, for a total value of $239,430.00. Following the sale, the director owned 66,658 shares of the company’s stock, valued at $766,567. This trade represents a 23.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders sold 26,787 shares of company stock worth $303,917. 5.16% of the stock is currently owned by corporate insiders.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $12.21 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.97. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 26.54 and a beta of 0.87. The business has a 50 day simple moving average of $11.37 and a 200 day simple moving average of $10.88. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $12.38.

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, beating the consensus estimate 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 analysts’ expectations of $142.90 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. Analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.56 dividend on an annualized basis and a yield of 4.6%. Hope Bancorp’s dividend payout ratio is presently 121.74%.

Analyst Upgrades and Downgrades

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

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.