American Century Companies Inc. Has $28.78 Million Stock Holdings in Hope Bancorp, Inc. $HOPE

Key Points

• American Century Companies Inc. has increased its ownership in Hope Bancorp, Inc. by 7.7%, now holding approximately 2.27% of the company valued at $28.8 million.
• Hope Bancorp recently reported an EPS of ($0.22), missing projections by ($0.43), with revenues of $94.58 million falling short of the $133.90 million consensus estimate.
• The company has declared a quarterly dividend of $0.14, yielding 5.4%, although its payout ratio currently stands at an unusually high 160.00%.

American Century Companies Inc. grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 7.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,749,086 shares of the financial services provider's stock after buying an additional 196,172 shares during the period. American Century Companies Inc. owned 2.27% of Hope Bancorp worth $28,783,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HOPE. Sterling Capital Management LLC lifted its position in shares of Hope Bancorp by 819.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock valued at $46,000 after buying an additional 3,309 shares during the last quarter. KBC Group NV lifted its position in shares of Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Hope Bancorp in the first quarter valued at approximately $105,000. Entropy Technologies LP acquired a new stake in shares of Hope Bancorp in the first quarter valued at approximately $110,000. Finally, Algert Global LLC acquired a new stake in shares of Hope Bancorp in the fourth quarter valued at approximately $135,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Hope Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $13.25.

Hope Bancorp Stock Performance

HOPE traded up $0.09 during trading on Wednesday, hitting $11.14. The stock had a trading volume of 496,898 shares, compared to its average volume of 964,669. The company has a 50 day moving average price of $10.73 and a 200-day moving average price of $10.44. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 31.83 and a beta of 0.94. Hope Bancorp, Inc. has a one year low of $8.82 and a one year high of $14.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.43). The firm had revenue of $94.58 million during the quarter, compared to the consensus estimate 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 earnings per share. As a group, research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.14 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.56 annualized dividend and a yield of 5.0%. Hope Bancorp's payout ratio is 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.