KLP Kapitalforvaltning AS Increases Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

KLP Kapitalforvaltning AS raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 93.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,300 shares of the financial services provider's stock after purchasing an additional 25,300 shares during the period. KLP Kapitalforvaltning AS's holdings in Hope Bancorp were worth $548,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Hope Bancorp by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 699,108 shares of the financial services provider's stock worth $7,320,000 after acquiring an additional 24,465 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Hope Bancorp during the 1st quarter worth $105,000. Teacher Retirement System of Texas bought a new stake in shares of Hope Bancorp during the 1st quarter worth $186,000. Deutsche Bank AG lifted its holdings in shares of Hope Bancorp by 49.4% during the 4th quarter. Deutsche Bank AG now owns 101,614 shares of the financial services provider's stock worth $1,249,000 after acquiring an additional 33,585 shares during the last quarter. Finally, KBC Group NV lifted its stake in 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 purchasing an additional 1,176 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Trading Down 1.5%

Hope Bancorp stock traded down $0.15 during mid-day trading on Thursday, hitting $9.99. The company's stock had a trading volume of 1,276,589 shares, compared to its average volume of 919,574. The business has a 50 day moving average price of $10.64 and a 200-day moving average price of $10.64. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $14.53. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 28.54 and a beta of 0.90. 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 (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (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 firm had revenue of $94.58 million during the quarter, compared to analysts' expectations of $133.90 million. During the same quarter in the previous year, the firm posted $0.22 EPS. As a group, analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 1st will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.6%. Hope Bancorp's payout ratio is currently 160.00%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 12th.

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.