Brandywine Global Investment Management LLC Makes New Investment in Hope Bancorp, Inc. $HOPE

Key Points

• Brandywine Global Investment Management LLC invested approximately $884,000 in Hope Bancorp, acquiring 84,464 shares of the financial services provider during the first quarter.
• Hope Bancorp reported a $0.22 loss per share for the last quarter, missing the consensus estimate, along with a revenue of $94.58 million, which also fell short of expectations.
• The company recently announced a quarterly dividend of $0.14 per share, translating to an annualized dividend of $0.56 and a yield of 5.4%.

Brandywine Global Investment Management LLC purchased a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 84,464 shares of the financial services provider's stock, valued at approximately $884,000. Brandywine Global Investment Management LLC owned about 0.07% of Hope Bancorp at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC lifted 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 acquiring an additional 3,309 shares during the last quarter. KBC Group NV boosted 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 valued at $87,000 after purchasing an additional 1,176 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Hope Bancorp in the first quarter worth about $105,000. Entropy Technologies LP purchased a new position in Hope Bancorp in the 1st quarter worth about $110,000. Finally, Algert Global LLC bought a new stake in Hope Bancorp during the 4th quarter valued at about $135,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Hope Bancorp Stock Down 0.2%

NASDAQ HOPE traded down $0.0250 during trading on Monday, reaching $11.0150. 82,435 shares of the company's stock traded hands, compared to its average volume of 938,509. The company's 50 day simple moving average is $10.67 and its two-hundred day simple moving average is $10.43. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $14.53. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 31.47 and a beta of 0.94. 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 issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.43). Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.The business 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 earned $0.22 EPS. As a group, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 5.1%. Hope Bancorp's dividend payout ratio is presently 160.00%.

Wall Street Analysts Forecast Growth

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

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.