LSV Asset Management Has $19.33 Million Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Key Points

• LSV Asset Management has reduced its stake in Hope Bancorp, Inc. by 1.6%, now owning approximately 1.53% of the company valued at $19.3 million.
• Hope Bancorp recently announced a quarterly dividend of $0.14 per share, resulting in an annualized dividend yield of 5.6%, despite a high payout ratio of 160%.
• The company's latest earnings report indicated a loss of ($0.22) EPS, missing analysts' expectations, with revenue falling short at $94.58 million compared to the expected $133.90 million.

LSV Asset Management lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,846,400 shares of the financial services provider's stock after selling 29,800 shares during the quarter. LSV Asset Management owned about 1.53% of Hope Bancorp worth $19,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Frontier Capital Management Co. LLC increased its holdings in Hope Bancorp by 3.6% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,963,643 shares of the financial services provider's stock valued at $36,423,000 after buying an additional 103,554 shares during the period. Rhino Investment Partners Inc increased its holdings in Hope Bancorp by 55.6% in the 4th quarter. Rhino Investment Partners Inc now owns 1,684,886 shares of the financial services provider's stock valued at $20,707,000 after buying an additional 601,876 shares during the period. Northern Trust Corp increased its holdings in Hope Bancorp by 18.6% in the 4th quarter. Northern Trust Corp now owns 1,491,628 shares of the financial services provider's stock valued at $18,332,000 after buying an additional 234,191 shares during the period. Invesco Ltd. increased its holdings 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 valued at $16,458,000 after buying an additional 564,014 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Hope Bancorp by 17.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,052,068 shares of the financial services provider's stock valued at $12,930,000 after buying an additional 158,896 shares during the period. Institutional investors own 84.00% of the company's stock.

Hope Bancorp Price Performance

Shares of HOPE traded up $0.13 during trading hours on Friday, hitting $10.02. The stock had a trading volume of 431,836 shares, compared to its average volume of 946,595. The company's fifty day moving average is $10.62 and its two-hundred day moving average is $10.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 52 week low of $8.82 and a 52 week high of $14.53. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 28.61 and a beta of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its 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 firm had revenue of $94.58 million during the quarter, compared to the consensus estimate of $133.90 million. During the same period in the previous year, the company posted $0.22 EPS. On average, analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.6%. Hope Bancorp's dividend payout ratio 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 report on Monday, May 12th.

About Hope Bancorp

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.