Nuveen LLC Takes $3.45 Million Position in Hope Bancorp, Inc. $HOPE

Key Points

• Nuveen LLC acquired 329,588 shares of Hope Bancorp, Inc., valued at approximately $3.45 million, increasing its ownership to 0.27% as of the latest SEC filing.
• Hope Bancorp reported a loss of $0.22 earnings per share for the last quarter, missing analysts' expectations, with a revenue of $94.58 million compared to a forecast of $133.90 million.
• The company's recent quarterly dividend was $0.14 per share, yielding 5.0%, although the dividend payout ratio is notably high at 160.00%.

Nuveen LLC acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 329,588 shares of the financial services provider's stock, valued at approximately $3,451,000. Nuveen LLC owned about 0.27% of Hope Bancorp at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Aigen Investment Management LP bought a new stake in Hope Bancorp in the first quarter valued at about $249,000. Entropy Technologies LP bought a new stake in Hope Bancorp in the first quarter valued at about $110,000. L & S Advisors Inc bought a new stake in Hope Bancorp in the first quarter valued at about $579,000. US Bancorp DE increased its holdings in Hope Bancorp by 2,878.3% in the first quarter. US Bancorp DE now owns 18,525 shares of the financial services provider's stock valued at $194,000 after purchasing an additional 17,903 shares during the last quarter. Finally, KLP Kapitalforvaltning AS increased its holdings in Hope Bancorp by 93.7% in the first quarter. KLP Kapitalforvaltning AS now owns 52,300 shares of the financial services provider's stock valued at $548,000 after purchasing an additional 25,300 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

HOPE has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Zacks Research downgraded Hope Bancorp from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hope Bancorp currently has an average rating of "Hold" and an average price target of $13.25.

Hope Bancorp Stock Down 0.6%

Shares of NASDAQ:HOPE traded down $0.07 during mid-day trading on Tuesday, reaching $11.06. 735,041 shares of the stock were exchanged, compared to its average volume of 757,584. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.42 billion, a P/E ratio of 31.60 and a beta of 0.97. Hope Bancorp, Inc. has a one year low of $8.82 and a one year high of $14.53. The stock's 50 day simple moving average is $10.79 and its 200-day simple moving average is $10.42.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.43). The firm had revenue of $94.58 million for the quarter, compared to the consensus estimate of $133.90 million. Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.During the same quarter in the previous year, the business posted $0.22 earnings per share. As a group, equities research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Friday, August 1st. Hope Bancorp's dividend payout ratio (DPR) is currently 160.00%.

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.