Hope Bancorp, Inc. $HOPE Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Hope Bancorp by 0.7%, selling 45,972 shares, which left it owning approximately 5.52% of the company valued at $70 million.
• Hope Bancorp reported a loss of $0.22 EPS for the latest quarter, missing analyst estimates significantly, with revenues also falling short at $94.58 million compared to expectations of $133.90 million.
• The company declared a quarterly dividend of $0.14, representing a yield of 5.4%, but the payout ratio stands at a high 160.00%.

Fuller & Thaler Asset Management Inc. lowered its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,688,812 shares of the financial services provider's stock after selling 45,972 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 5.52% of Hope Bancorp worth $70,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. LPL Financial LLC grew its position in Hope Bancorp by 11.1% in the 4th quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider's stock valued at $301,000 after acquiring an additional 2,443 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Hope Bancorp by 24.4% in the fourth quarter. Wells Fargo & Company MN now owns 72,609 shares of the financial services provider's stock worth $892,000 after purchasing an additional 14,231 shares during the last quarter. Invesco Ltd. increased its stake in Hope Bancorp by 72.8% in 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 during the period. Legal & General Group Plc lifted its holdings in Hope Bancorp by 0.5% during the 4th quarter. Legal & General Group Plc now owns 339,560 shares of the financial services provider's stock valued at $4,173,000 after buying an additional 1,560 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Hope Bancorp in the 4th quarter valued at about $912,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Up 5.8%

NASDAQ HOPE traded up $0.60 during trading on Friday, reaching $11.03. 1,279,723 shares of the company's stock traded hands, compared to its average volume of 990,228. Hope Bancorp, Inc. has a 12-month low of $8.82 and a 12-month high of $14.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 31.51 and a beta of 0.94. The company's 50 day simple moving average is $10.67 and its two-hundred day simple moving average is $10.45.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced 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 return on equity of 4.45% and a net margin of 4.27%.The business had revenue of $94.58 million during the quarter, compared to analysts' expectations of $133.90 million. During the same period in the previous year, the company posted $0.22 EPS. As a group, sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Hope Bancorp has a consensus rating of "Moderate Buy" and an average price target of $13.25.

Hope Bancorp 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.