Hotchkis & Wiley Capital Management LLC Boosts Stock Position in Hope Bancorp, Inc. $HOPE

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Hope Bancorp by 3.9%, owning approximately 1,144,748 shares valued at about $11.99 million.
• Hope Bancorp reported a loss of $0.22 earnings per share for the latest quarter, significantly missing the analyst consensus estimate of $0.21.
• The company declared a quarterly dividend of $0.14, resulting in an annualized yield of 5.1%, with a payout ratio of 160%.

Hotchkis & Wiley Capital Management LLC increased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,144,748 shares of the financial services provider's stock after buying an additional 43,280 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.95% of Hope Bancorp worth $11,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV boosted its holdings in shares of Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock worth $87,000 after buying an additional 1,176 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Hope Bancorp in the first quarter worth approximately $105,000. Entropy Technologies LP purchased a new position in shares of Hope Bancorp in the first quarter worth approximately $110,000. Algert Global LLC purchased a new position in shares of Hope Bancorp in the fourth quarter worth approximately $135,000. Finally, Cerity Partners LLC boosted its holdings in shares of Hope Bancorp by 14.7% in the first quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider's stock worth $145,000 after buying an additional 1,772 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Hope Bancorp Trading Up 0.7%

Shares of Hope Bancorp stock traded up $0.08 on Friday, hitting $11.27. 132,260 shares of the company traded hands, compared to its average volume of 928,626. The stock's 50 day moving average price is $10.75 and its 200-day moving average price is $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. Hope Bancorp, Inc. has a 52 week low of $8.82 and a 52 week high of $14.53. The company has a market cap of $1.44 billion, a PE ratio of 32.19 and a beta of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.43). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The company had revenue of $94.58 million for the quarter, compared to the consensus estimate of $133.90 million. During the same period in the prior year, the firm posted $0.22 EPS. Equities research analysts predict 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. Shareholders of record on Friday, August 1st were paid a dividend of $0.14 per share. The ex-dividend date was Friday, August 1st. This represents a $0.56 dividend on an annualized basis and a yield of 5.0%. Hope Bancorp's dividend payout ratio is presently 160.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on HOPE shares. Wall Street Zen upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Zacks Research cut Hope Bancorp from a "hold" rating to a "strong sell" rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hope Bancorp presently has an average rating of "Hold" and a consensus target price 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.