Ieq Capital LLC Has $599,000 Stake in Hope Bancorp, Inc. $HOPE

Key Points

• Ieq Capital LLC increased its holdings in Hope Bancorp, Inc. by 89.1%, acquiring an additional 26,943 shares, bringing its total to 57,166 shares valued at $599,000.
• Hope Bancorp recently announced a quarterly dividend of $0.14 per share, reflecting a 5.0% dividend yield, but has a high dividend payout ratio of 160.00%.
• The company's recent earnings report showed a loss of ($0.22) earnings per share, falling short of analysts' expectations of $0.21, along with a revenue of $94.58 million against a forecast of $133.90 million.

Ieq Capital LLC grew its position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 89.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,166 shares of the financial services provider's stock after purchasing an additional 26,943 shares during the period. Ieq Capital LLC's holdings in Hope Bancorp were worth $599,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HOPE. KBC Group NV lifted its holdings in shares of Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock valued at $87,000 after purchasing an additional 1,176 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Hope Bancorp in the first quarter valued at about $105,000. Entropy Technologies LP acquired a new stake in shares of Hope Bancorp in the first quarter valued at about $110,000. Algert Global LLC acquired a new stake in shares of Hope Bancorp in the fourth quarter valued at about $135,000. Finally, Cerity Partners LLC increased its position in shares of Hope Bancorp by 14.7% in the first quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider's stock valued at $145,000 after acquiring an additional 1,772 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Stock Performance

NASDAQ HOPE traded down $0.07 during trading on Tuesday, reaching $11.11. 144,458 shares of the company's stock were exchanged, compared to its average volume of 914,983. The business has a 50 day moving average price of $10.83 and a 200-day moving average price of $10.41. The stock has a market capitalization of $1.42 billion, a P/E ratio of 31.79 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $14.53.

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 analysts' consensus estimates of $0.21 by ($0.43). The business had revenue of $94.58 million for the quarter, compared to analyst estimates of $133.90 million. Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.During the same period last year, the firm earned $0.22 EPS. Sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, August 1st were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.0%. Hope Bancorp's dividend payout ratio is presently 160.00%.

Analysts Set New Price Targets

HOPE has been the topic of a number of recent research reports. Zacks Research downgraded Hope Bancorp from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 26th. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.