Hope Bancorp, Inc. (NASDAQ:HOPE) Short Interest Up 38.0% in March

Hope Bancorp, Inc. (NASDAQ:HOPE) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,650,000 shares, an increase of 38.0% from the February 28th total of 1,920,000 shares. Based on an average trading volume of 745,900 shares, the short-interest ratio is presently 3.6 days. Approximately 2.3% of the shares of the company are short sold.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded down $0.08 during trading on Tuesday, reaching $10.40. The company had a trading volume of 408,030 shares, compared to its average volume of 731,462. Hope Bancorp has a twelve month low of $9.80 and a twelve month high of $14.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The firm has a market capitalization of $1.26 billion, a PE ratio of 12.68 and a beta of 1.15. The firm’s fifty day moving average is $11.07 and its 200 day moving average is $12.18.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. On average, equities analysts forecast that Hope Bancorp will post 1.09 EPS for the current 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 5.39%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. DA Davidson cut their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Piper Sandler decreased their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.88.

Insider Buying and Selling at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction 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. This represents a 17.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hope Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its holdings in shares of Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after buying an additional 848 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Hope Bancorp by 819.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider’s stock valued at $46,000 after buying an additional 3,309 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Hope Bancorp in the third quarter valued at $58,000. Finally, KBC Group NV grew its holdings in shares of Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,901 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Company 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.