Hope Bancorp, Inc. $HOPE Shares Bought by Hotchkis & Wiley Capital Management LLC

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 lifted its stake in shares of 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 & Exchange Commission. The institutional investor owned 1,144,748 shares of the financial services provider's stock after purchasing an additional 43,280 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.95% of Hope Bancorp worth $11,986,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. KBC Group NV raised its stake in shares of Hope Bancorp by 16.6% in the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Hope Bancorp during the first quarter worth about $105,000. Entropy Technologies LP bought a new stake in Hope Bancorp in the first quarter worth about $110,000. Algert Global LLC acquired a new stake in Hope Bancorp in the 4th quarter valued at about $135,000. Finally, Cerity Partners LLC lifted its holdings in Hope Bancorp by 14.7% in the 1st quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider's stock valued at $145,000 after acquiring an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Hope Bancorp Price Performance

NASDAQ HOPE opened at $11.03 on Friday. The stock's 50-day moving average price is $10.67 and its two-hundred day moving average price is $10.44. 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 company has a market cap of $1.41 billion, a PE ratio of 31.51 and a beta of 0.94. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $14.53.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its 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 firm had revenue of $94.58 million during the quarter, compared to analyst estimates of $133.90 million. Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

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

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Hope Bancorp presently has a consensus rating of "Moderate Buy" 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.

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