Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC grew its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 180.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 135,780 shares of the financial services provider’s stock after acquiring an additional 87,316 shares during the quarter. Intech Investment Management LLC owned about 0.11% of Hope Bancorp worth $1,669,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HOPE. Victory Capital Management Inc. boosted its holdings in shares of Hope Bancorp by 18.2% during the third quarter. Victory Capital Management Inc. now owns 166,609 shares of the financial services provider’s stock valued at $2,093,000 after acquiring an additional 25,654 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Hope Bancorp during the third quarter valued at $161,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hope Bancorp by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock valued at $29,468,000 after acquiring an additional 33,689 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Hope Bancorp during the third quarter valued at $841,000. Finally, Quantbot Technologies LP acquired a new position in shares of Hope Bancorp during the third quarter valued at $58,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

HOPE stock opened at $10.45 on Friday. The company has a market capitalization of $1.26 billion, a P/E ratio of 12.74 and a beta of 1.15. The company has a 50-day simple moving average of $11.24 and a 200 day simple moving average of $12.26. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.54. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. Sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.36%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HOPE. DA Davidson reduced their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler reduced their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.88.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares in the company, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.29% of the stock is owned by company insiders.

Hope Bancorp Profile

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.