GAMMA Investing LLC Buys 40,065 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of HOPE. Rhino Investment Partners Inc boosted its position in Hope Bancorp by 55.6% during the fourth quarter. Rhino Investment Partners Inc now owns 1,684,886 shares of the financial services provider's stock worth $20,707,000 after purchasing an additional 601,876 shares during the period. Invesco Ltd. lifted its holdings in Hope Bancorp by 72.8% during the 4th quarter. Invesco Ltd. now owns 1,339,171 shares of the financial services provider's stock worth $16,458,000 after buying an additional 564,014 shares in the last quarter. Norges Bank bought a new position in Hope Bancorp in the 4th quarter valued at $4,001,000. American Century Companies Inc. boosted its position in Hope Bancorp by 12.5% in the 4th quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider's stock valued at $31,375,000 after buying an additional 283,514 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Hope Bancorp by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock worth $22,100,000 after purchasing an additional 240,192 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Analysts Set New Price Targets

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

Hope Bancorp Trading Down 3.0%

Hope Bancorp stock traded down $0.31 during mid-day trading on Friday, hitting $10.13. 664,053 shares of the company's stock were exchanged, compared to its average volume of 825,306. The firm has a market capitalization of $1.30 billion, a P/E ratio of 12.35 and a beta of 0.89. Hope Bancorp, Inc. has a fifty-two week low of $8.83 and a fifty-two week high of $14.54. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The company's 50 day simple moving average is $10.01 and its 200-day simple moving average is $11.07.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $217.17 million for the quarter, compared to the consensus estimate of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same quarter last year, the business posted $0.23 EPS. On average, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Friday, May 2nd. Hope Bancorp's dividend payout ratio is 71.79%.

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.