GAMMA Investing LLC Raises Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

GAMMA Investing LLC increased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 1,245.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,283 shares of the financial services provider's stock after purchasing an additional 40,065 shares during the period. GAMMA Investing LLC's holdings in Hope Bancorp were worth $4,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Hope Bancorp during the fourth quarter worth about $2,945,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Hope Bancorp by 30.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 286,356 shares of the financial services provider's stock worth $3,519,000 after buying an additional 66,076 shares during the last quarter. WBI Investments LLC lifted its stake in Hope Bancorp by 26.6% during the 4th quarter. WBI Investments LLC now owns 15,901 shares of the financial services provider's stock valued at $195,000 after acquiring an additional 3,337 shares during the period. ProShare Advisors LLC lifted its stake in Hope Bancorp by 44.3% during the 4th quarter. ProShare Advisors LLC now owns 35,033 shares of the financial services provider's stock valued at $431,000 after acquiring an additional 10,752 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Hope Bancorp by 15.2% in the 4th quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider's stock valued at $166,000 after acquiring an additional 1,786 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

NASDAQ:HOPE traded down $0.04 during trading hours on Thursday, reaching $10.44. The company had a trading volume of 170,664 shares, compared to its average volume of 823,820. The firm has a market cap of $1.34 billion, a PE ratio of 12.73 and a beta of 0.89. Hope Bancorp, Inc. has a 1-year low of $8.83 and a 1-year high of $14.54. The business's 50 day moving average price is $9.97 and its 200-day moving average price is $11.12. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $217.17 million during the quarter, compared to analysts' expectations of $114.97 million. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. During the same period in the previous year, the business posted $0.23 EPS. Research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Friday, May 2nd. Hope Bancorp's dividend payout ratio (DPR) is presently 71.79%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Monday, May 12th.

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.