Deutsche Bank AG Makes New $2.06 Million Investment in Hope Bancorp, Inc. $HOPE

Key Points

• Deutsche Bank acquired 150,968 shares of Hope Bancorp, worth approximately $2.06 million, giving it a 0.12% stake. Institutional investors collectively own about 84% of the company.
• Analyst sentiment is favorable, with Hope Bancorp rated “Moderate Buy” and an average price target of $15.50; recent target increases came from DA Davidson and Keefe, Bruyette & Woods.
• The bank exceeded quarterly earnings expectations with $0.27 EPS and $147.82 million in revenue, while maintaining a quarterly dividend of $0.14 per share, equivalent to a 4.0% annualized yield.

Deutsche Bank AG bought a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 150,968 shares of the financial services provider's stock, valued at approximately $2,065,000. Deutsche Bank AG owned approximately 0.12% of Hope Bancorp at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in HOPE. Wellington Management Group LLP increased its stake in Hope Bancorp by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,335,999 shares of the financial services provider's stock valued at $122,089,000 after buying an additional 303,019 shares during the period. Dimensional Fund Advisors LP lifted its position in Hope Bancorp by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider's stock worth $82,298,000 after buying an additional 315,028 shares in the last quarter. State Street Corp boosted its stake in shares of Hope Bancorp by 3.3% during the 2nd quarter. State Street Corp now owns 6,494,266 shares of the financial services provider's stock valued at $69,683,000 after buying an additional 209,442 shares during the period. HoldCo Asset Management LP acquired a new stake in shares of Hope Bancorp during the 4th quarter valued at $32,838,000. Finally, Rhino Investment Partners Inc grew its holdings in shares of Hope Bancorp by 9.9% during the 1st quarter. Rhino Investment Partners Inc now owns 2,595,281 shares of the financial services provider's stock valued at $28,989,000 after acquiring an additional 232,783 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HOPE. DA Davidson upped their price target on shares of Hope Bancorp from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, July 28th. Weiss Ratings upgraded Hope Bancorp from a "hold (c+)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods upped their target price on Hope Bancorp from $14.00 to $15.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Hope Bancorp currently has an average rating of "Moderate Buy" and an average price target of $15.50.

Insider Buying and Selling

In other news, Director Daisy Y. Ha sold 26,995 shares of Hope Bancorp stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total value of $384,408.80. Following the transaction, the director owned 346,120 shares of the company's stock, valued at $4,928,748.80. This trade represents a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.27% of the stock is currently owned by company insiders.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $13.92 on Friday. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.59. The business has a 50-day moving average of $13.80 and a two-hundred day moving average of $12.64. The stock has a market capitalization of $1.78 billion, a P/E ratio of 13.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The business had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a yield of 4.0%. Hope Bancorp's dividend payout ratio is presently 56.00%.

Hope Bancorp Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company's principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.

Want to see what other hedge funds are holding HOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source