76,830 Shares in Hope Bancorp, Inc. $HOPE Purchased by Murchinson Ltd.

Key Points

• Murchinson Ltd. acquired 76,830 shares of Hope Bancorp, Inc. for approximately $804,000, marking its first investment in the company.
• Institutional investors own 84.00% of Hope Bancorp's stock, indicating strong institutional interest in the financial services provider.
• Hope Bancorp recently reported quarterly earnings of ($0.22) per share, significantly missing the consensus estimate of $0.21, with total revenue of $94.58 million.

Murchinson Ltd. bought a new position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 76,830 shares of the financial services provider's stock, valued at approximately $804,000. Murchinson Ltd. owned 0.06% of Hope Bancorp as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Cresset Asset Management LLC lifted its position in Hope Bancorp by 0.8% in the 4th quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider's stock worth $1,459,000 after buying an additional 977 shares during the last quarter. KBC Group NV lifted its position in Hope Bancorp by 16.6% in the 1st quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock worth $87,000 after buying an additional 1,176 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in Hope Bancorp by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 72,836 shares of the financial services provider's stock worth $763,000 after buying an additional 1,233 shares during the last quarter. Cerity Partners LLC lifted its position in Hope Bancorp by 14.7% in the 1st quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider's stock worth $145,000 after buying an additional 1,772 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in Hope Bancorp by 15.2% in the 4th quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider's stock worth $166,000 after buying an additional 1,786 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut Hope Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hope Bancorp presently has a consensus rating of "Hold" and an average target price of $13.25.

Hope Bancorp Stock Up 0.3%

HOPE stock traded up $0.04 during midday trading on Thursday, hitting $11.05. The stock had a trading volume of 215,068 shares, compared to its average volume of 911,083. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50-day moving average of $10.81 and a two-hundred day moving average of $10.42. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $14.53. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 31.56 and a beta of 0.97.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its 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). Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.The company had revenue of $94.58 million during the quarter, compared to the consensus estimate of $133.90 million. During the same period last year, the firm posted $0.22 earnings per share. As a group, equities research analysts forecast 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 was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp's dividend payout ratio is presently 160.00%.

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.