Aigen Investment Management LP Makes New Investment in Hope Bancorp, Inc. $HOPE

Key Points

• Aigen Investment Management LP acquired a new position in Hope Bancorp, purchasing 23,783 shares valued at approximately $249,000.
Hope Bancorp recently announced a quarterly dividend of $0.14 per share, with a yield of 5.4%, although its payout ratio is currently very high at 160.00%.
• The company reported a loss of $0.22 EPS in its quarterly earnings, missing analysts' expectations significantly, and anticipates a total EPS of 1.09 for the fiscal year.

Aigen Investment Management LP bought a new position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 23,783 shares of the financial services provider's stock, valued at approximately $249,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Cresset Asset Management LLC raised its holdings in Hope Bancorp by 0.8% in the fourth quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider's stock worth $1,459,000 after purchasing an additional 977 shares in the last quarter. KBC Group NV raised its holdings in Hope Bancorp by 16.6% in 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. SummerHaven Investment Management LLC increased its holdings in shares of Hope Bancorp by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 72,836 shares of the financial services provider's stock valued at $763,000 after acquiring an additional 1,233 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Hope Bancorp by 0.5% during the fourth quarter. Legal & General Group Plc now owns 339,560 shares of the financial services provider's stock valued at $4,173,000 after acquiring an additional 1,560 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Hope Bancorp by 14.7% during the first quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider's stock valued at $145,000 after acquiring an additional 1,772 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Hope Bancorp Stock Up 0.5%

Shares of NASDAQ:HOPE traded up $0.06 on Monday, hitting $10.36. 465,772 shares of the company traded hands, compared to its average volume of 944,517. Hope Bancorp, Inc. has a 52 week low of $8.82 and a 52 week high of $14.53. 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 stock has a 50 day simple moving average of $10.65 and a 200-day simple moving average of $10.47. The company has a market cap of $1.33 billion, a PE ratio of 29.59 and a beta of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data 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 net margin of 4.27% and a return on equity of 4.45%. The business had revenue of $94.58 million for the quarter, compared to analysts' expectations of $133.90 million. During the same period last year, the business earned $0.22 earnings per share. As a group, research analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.4%. Hope Bancorp's dividend payout ratio (DPR) is 160.00%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a report 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.