Invesco Ltd. Sells 145,909 Shares of Hope Bancorp, Inc. $HOPE

Key Points

• Invesco Ltd. reduced its stake in Hope Bancorp, Inc. by 10.9%, selling 145,909 shares in the first quarter, leaving it with approximately 1.19 million shares valued at $12.5 million.
• Hope Bancorp recently reported a loss of $0.22 EPS for the quarter, missing the consensus estimate of $0.21, with revenue falling short at $94.58 million against an expected $133.90 million.
• The company declared a quarterly dividend of $0.14 per share, resulting in an annualized dividend yield of 5.1% amidst a high dividend payout ratio of 160%.

Invesco Ltd. lessened its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,193,262 shares of the financial services provider's stock after selling 145,909 shares during the quarter. Invesco Ltd. owned approximately 0.99% of Hope Bancorp worth $12,493,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. L & S Advisors Inc bought a new stake in shares of Hope Bancorp during the first quarter worth approximately $579,000. US Bancorp DE boosted its stake in Hope Bancorp by 2,878.3% in the first quarter. US Bancorp DE now owns 18,525 shares of the financial services provider's stock valued at $194,000 after acquiring an additional 17,903 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in Hope Bancorp by 93.7% in the first quarter. KLP Kapitalforvaltning AS now owns 52,300 shares of the financial services provider's stock valued at $548,000 after acquiring an additional 25,300 shares during the last quarter. MQS Management LLC acquired a new stake in Hope Bancorp during the 1st quarter worth $305,000. Finally, CWM LLC raised its position in shares of Hope Bancorp by 37.0% during the 1st quarter. CWM LLC now owns 14,586 shares of the financial services provider's stock valued at $153,000 after acquiring an additional 3,940 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

HOPE has been the topic of a number of analyst reports. Zacks Research downgraded Hope Bancorp from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $13.25.

Hope Bancorp Stock Down 0.5%

Shares of HOPE stock traded down $0.06 during trading hours on Friday, hitting $11.13. 504,194 shares of the company were exchanged, compared to its average volume of 883,237. Hope Bancorp, Inc. has a 52 week low of $8.82 and a 52 week high of $14.53. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $10.77 and a two-hundred day moving average of $10.43. The company has a market capitalization of $1.43 billion, a PE ratio of 31.80 and a beta of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted 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). The company had revenue of $94.58 million during the quarter, compared to the consensus estimate of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. During the same period in the prior year, the firm posted $0.22 earnings per share. Analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

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

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.