Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 93.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its holdings in Hope Bancorp by 819.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock valued at $46,000 after purchasing an additional 3,309 shares during the last quarter. KBC Group NV increased its stake in Hope Bancorp by 16.6% during 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 during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Hope Bancorp in the 1st quarter valued at approximately $105,000. Algert Global LLC purchased a new stake in shares of Hope Bancorp in the 4th quarter valued at approximately $135,000. Finally, Cerity Partners LLC grew its position in shares of 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 buying an additional 1,772 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Hope Bancorp Stock Performance

Shares of HOPE stock traded down $0.28 during mid-day trading on Friday, hitting $9.71. The stock had a trading volume of 2,068,191 shares, compared to its average volume of 960,222. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $14.53. The firm has a market cap of $1.24 billion, a PE ratio of 27.74 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.96. The company's 50-day simple moving average is $10.63 and its 200-day simple moving average is $10.61.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings data 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). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The company had revenue of $94.58 million during the quarter, compared to analyst estimates of $133.90 million. During the same quarter last year, the business earned $0.22 EPS. 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 will be paid on Friday, August 15th. Stockholders of record on Friday, August 1st will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, August 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.8%. Hope Bancorp's payout ratio is 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 report on Monday, May 12th.

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.