Hope Bancorp, Inc. $HOPE Shares Purchased by American Century Companies Inc.

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. lifted its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,749,086 shares of the financial services provider's stock after purchasing an additional 196,172 shares during the quarter. American Century Companies Inc. owned 2.27% of Hope Bancorp worth $28,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of Hope Bancorp by 819.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after buying an additional 3,309 shares during the period. KBC Group NV raised its stake in shares of Hope Bancorp by 16.6% during 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 period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hope Bancorp during the 1st quarter worth approximately $105,000. Entropy Technologies LP acquired a new position in shares of Hope Bancorp during the 1st quarter worth approximately $110,000. Finally, Algert Global LLC acquired a new position in shares of Hope Bancorp during the 4th quarter worth approximately $135,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

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

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded up $0.09 during midday trading on Tuesday, hitting $11.09. The company had a trading volume of 220,486 shares, compared to its average volume of 936,521. Hope Bancorp, Inc. has a twelve month low of $8.82 and a twelve month 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. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 31.67 and a beta of 0.94. The business's 50-day simple moving average is $10.68 and its 200-day simple moving average is $10.43.

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). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The company had revenue of $94.58 million during the quarter, compared to analyst estimates of $133.90 million. During the same period in the prior year, the business posted $0.22 EPS. On average, research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend 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 160.00%.

About Hope Bancorp

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.