Comerica Bank Buys 27,669 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Comerica Bank grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 27.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,813 shares of the financial services provider's stock after acquiring an additional 27,669 shares during the quarter. Comerica Bank owned 0.11% of Hope Bancorp worth $1,595,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of HOPE. Smartleaf Asset Management LLC increased its stake in Hope Bancorp by 181.9% during 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 stake in Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock worth $44,000 after purchasing an additional 848 shares during the period. Sterling Capital Management LLC increased its holdings in Hope Bancorp by 819.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. KBC Group NV raised its stake 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 valued at $87,000 after purchasing an additional 1,901 shares during the period. Finally, Cibc World Markets Corp bought a new stake in shares of Hope Bancorp in the fourth quarter valued at about $133,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on HOPE. DA Davidson decreased their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a report on Tuesday, January 28th. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday. Finally, Piper Sandler cut their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th.

Hope Bancorp Stock Down 1.5%

HOPE stock traded down $0.16 during mid-day trading on Wednesday, reaching $10.48. The company had a trading volume of 1,021,048 shares, compared to its average volume of 824,175. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.78 and a beta of 0.88. Hope Bancorp, Inc. has a 52 week low of $8.83 and a 52 week high of $14.54. The stock has a 50 day simple moving average of $10.03 and a two-hundred day simple moving average of $11.54. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. The firm had revenue of $217.17 million for the quarter, compared to analyst estimates of $114.97 million. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, equities 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 will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend is Friday, May 2nd. Hope Bancorp's dividend payout ratio (DPR) is presently 71.79%.

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.