Wellington Management Group LLP Boosts Stake in Hope Bancorp, Inc. $HOPE

Key Points

• Wellington Management Group LLP has increased its holdings in Hope Bancorp, Inc. by 43.4%, owning approximately 5.12% of the company after acquiring an additional 1,877,820 shares in the first quarter.
• Hope Bancorp reported a significant earnings miss with an EPS of ($0.22) for the last quarter, falling short of the consensus estimate of $0.21 by ($0.43).
• The company declared a quarterly dividend of $0.14, representing an annualized yield of 5.1%, though it has a high payout ratio of 160.00%.

Wellington Management Group LLP boosted its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 43.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,201,937 shares of the financial services provider's stock after buying an additional 1,877,820 shares during the quarter. Wellington Management Group LLP owned 5.12% of Hope Bancorp worth $64,934,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Sterling Capital Management LLC raised its stake in shares of Hope Bancorp by 819.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock valued at $46,000 after acquiring an additional 3,309 shares in the last quarter. KBC Group NV increased its holdings in 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 purchasing an additional 1,176 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Hope Bancorp in the 1st quarter valued at about $105,000. Entropy Technologies LP purchased a new position in shares of Hope Bancorp in the 1st quarter valued at about $110,000. Finally, Algert Global LLC purchased a new position in shares of Hope Bancorp in the 4th quarter valued at about $135,000. Institutional investors and hedge funds own 84.00% of the company's stock.

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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.25.

Hope Bancorp Stock Up 0.5%

HOPE stock traded up $0.05 during trading on Tuesday, hitting $11.05. 578,034 shares of the company's stock were exchanged, compared to its average volume of 938,793. The business has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $10.43. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 31.57 and a beta of 0.94. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $14.53.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced 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). The company had revenue of $94.58 million during the quarter, compared to analysts' expectations of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. During the same quarter in the prior year, the company earned $0.22 earnings per share. As a group, equities research analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.1%. The ex-dividend date was Friday, August 1st. Hope Bancorp's dividend payout ratio (DPR) is currently 160.00%.

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.