55,332 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Purchased by L & S Advisors Inc

Key Points

• L & S Advisors Inc acquired a new stake in Hope Bancorp, purchasing 55,332 shares valued at approximately $579,000 in the first quarter.
• Hope Bancorp recently reported an earnings miss with EPS at ($0.22), falling short of analyst expectations of $0.21.
• The company declared a quarterly dividend of $0.14, with a yield of 5.8% and a significant dividend payout ratio of 160%.

L & S Advisors Inc acquired a new position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,332 shares of the financial services provider's stock, valued at approximately $579,000.

Several other hedge funds also recently added to or reduced their stakes in HOPE. Principal Financial Group Inc. boosted its position in Hope Bancorp by 3.6% during the first quarter. Principal Financial Group Inc. now owns 699,108 shares of the financial services provider's stock worth $7,320,000 after acquiring an additional 24,465 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Hope Bancorp during the 1st quarter worth approximately $105,000. Teacher Retirement System of Texas acquired a new position in Hope Bancorp during the 1st quarter worth $186,000. Deutsche Bank AG increased its stake in shares of Hope Bancorp by 49.4% during the fourth quarter. Deutsche Bank AG now owns 101,614 shares of the financial services provider's stock worth $1,249,000 after buying an additional 33,585 shares during the period. Finally, KBC Group NV grew its stake in shares of Hope Bancorp by 16.6% during the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,176 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE traded down $0.12 on Thursday, hitting $9.89. The company's stock had a trading volume of 674,590 shares, compared to its average volume of 949,068. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.96. The stock has a 50 day moving average of $10.63 and a 200-day moving average of $10.58. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $14.53. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 28.26 and a beta of 0.94.

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

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be paid a $0.14 dividend. The ex-dividend date is Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.7%. Hope Bancorp's dividend payout ratio is 160.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 12th.

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.