Comerica Bank Has $1.60 Million Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Comerica Bank lifted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 27.1% during the 4th quarter, according to its most recent filing 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 approximately 0.11% of Hope Bancorp worth $1,595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in Hope Bancorp by 181.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Hope Bancorp by 31.2% during the 4th 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 during the period. Sterling Capital Management LLC raised 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 buying an additional 3,309 shares during the period. KBC Group NV increased its holdings in Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in Hope Bancorp during the 4th quarter worth about $133,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on HOPE. DA Davidson reduced their price target on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday. Finally, Piper Sandler cut their price target 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 Performance

Shares of HOPE traded down $0.05 during mid-day trading on Friday, reaching $10.51. The company's stock had a trading volume of 191,864 shares, compared to its average volume of 823,564. Hope Bancorp, Inc. has a 1-year low of $8.83 and a 1-year high of $14.54. The stock has a market cap of $1.27 billion, a P/E ratio of 12.79 and a beta of 0.88. The business has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $11.52. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $217.17 million during the quarter, compared to analysts' expectations of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same period last year, the firm posted $0.23 earnings per share. As a group, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.33%. The ex-dividend date is Friday, May 2nd. Hope Bancorp's payout ratio is 71.79%.

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.