Intech Investment Management LLC Has $703,000 Stock Position in Hope Bancorp, Inc. $HOPE

Key Points

• Intech Investment Management cut its Hope Bancorp stake by 56.4% in the fourth quarter, leaving it with 64,171 shares valued at about $703,000.
• Hope Bancorp reported Q1 earnings of $0.23 per share, slightly ahead of analyst estimates, while revenue came in below expectations at $133.82 million despite rising 21% year over year.
• The bank paid a quarterly dividend of $0.14 per share, equal to a 4.4% annualized yield, while analysts currently rate the stock a consensus Hold with an average price target of $14.50.

Intech Investment Management LLC lowered its stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 56.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 64,171 shares of the financial services provider's stock after selling 82,953 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Hope Bancorp worth $703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HOPE. Global Retirement Partners LLC acquired a new stake in shares of Hope Bancorp in the fourth quarter valued at about $28,000. International Assets Investment Management LLC acquired a new stake in shares of Hope Bancorp in the fourth quarter valued at about $29,000. Geneos Wealth Management Inc. increased its position in shares of Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 2,558 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Hope Bancorp by 157.1% in the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 3,071 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Hope Bancorp in the third quarter valued at about $97,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $12.67 on Tuesday. The business's 50 day moving average price is $12.23 and its two-hundred day moving average price is $11.69. The company has a market cap of $1.62 billion, a PE ratio of 24.37 and a beta of 0.84. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. Hope Bancorp, Inc. has a twelve month low of $9.44 and a twelve month high of $13.02.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.01. The firm had revenue of $133.82 million for the quarter, compared to the consensus estimate of $145.30 million. Hope Bancorp had a return on equity of 5.32% and a net margin of 6.56%.The business's revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 earnings per share. On average, analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, May 8th. Hope Bancorp's payout ratio is currently 107.69%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Zacks Research raised Hope Bancorp from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 31st. Weiss Ratings raised Hope Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Brean Capital raised Hope Bancorp from a "neutral" rating to a "buy" rating in a research report on Wednesday, April 1st. DA Davidson boosted their price target on Hope Bancorp from $14.50 to $15.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $13.00 to $14.00 and gave the stock a "market perform" rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Hope Bancorp presently has an average rating of "Hold" and an average price target of $14.50.

Insider Activity

In other news, Director Daisy Y. Ha sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total transaction of $150,360.00. Following the completion of the sale, the director owned 373,115 shares in the company, valued at $4,675,130.95. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.27% of the stock is currently owned by corporate insiders.

Hope Bancorp Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company's principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.

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