Walleye Capital LLC Has $308,000 Position in Hope Bancorp, Inc. $HOPE

Key Points

• Walleye Capital LLC significantly reduced its stake in Hope Bancorp by 67.3%, selling 60,600 shares and retaining 29,400 shares now valued at $308,000.
• Hope Bancorp reported a loss of ($0.22) EPS for the last quarter, missing the consensus estimate of earnings by a wide margin, while their revenue also fell short of expectations at $94.58 million.
• The company recently announced a quarterly dividend of $0.14, representing an annualized dividend of $0.56 with a yield of 5.0%, although the dividend payout ratio currently stands at 160.00%.

Walleye Capital LLC cut its stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 67.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,400 shares of the financial services provider's stock after selling 60,600 shares during the period. Walleye Capital LLC's holdings in Hope Bancorp were worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. KBC Group NV increased its stake in Hope Bancorp by 16.6% in the 1st quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,176 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Hope Bancorp during the 1st quarter valued at $105,000. Entropy Technologies LP bought a new stake in Hope Bancorp during the first quarter valued at $110,000. Algert Global LLC acquired a new position in Hope Bancorp during the 4th quarter valued at approximately $135,000. Finally, Cerity Partners LLC raised its position in shares of Hope Bancorp by 14.7% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HOPE. Zacks Research lowered shares of Hope Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 26th. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $13.25.

Hope Bancorp Trading Up 0.3%

Shares of Hope Bancorp stock traded up $0.04 during trading on Monday, reaching $11.16. The company's stock had a trading volume of 206,099 shares, compared to its average volume of 917,873. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $14.53. The firm's 50-day moving average is $10.82 and its two-hundred day moving average is $10.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 31.87 and a beta of 0.96.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.43). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The business had revenue of $94.58 million during the quarter, compared to analysts' expectations of $133.90 million. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, August 1st. Hope Bancorp's dividend payout ratio (DPR) is 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.