Millennium Management LLC Purchases 135,267 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Millennium Management LLC raised its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 211.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 199,159 shares of the financial services provider's stock after acquiring an additional 135,267 shares during the quarter. Millennium Management LLC owned approximately 0.16% of Hope Bancorp worth $2,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock worth $3,183,000 after buying an additional 132,677 shares during the period. KBC Group NV boosted its stake in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,901 shares in the last quarter. Empowered Funds LLC boosted its stake in Hope Bancorp by 5.1% during the fourth quarter. Empowered Funds LLC now owns 431,536 shares of the financial services provider's stock worth $5,304,000 after acquiring an additional 21,082 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Hope Bancorp by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 674,643 shares of the financial services provider's stock worth $8,291,000 after acquiring an additional 26,548 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in Hope Bancorp during the fourth quarter worth $371,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Stock Down 0.4%

Shares of Hope Bancorp stock traded down $0.04 during trading hours on Thursday, reaching $9.93. The company's stock had a trading volume of 519,773 shares, compared to its average volume of 832,472. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. The company has a market capitalization of $1.27 billion, a P/E ratio of 12.11 and a beta of 0.88. The stock's fifty day simple moving average is $9.94 and its two-hundred day simple moving average is $11.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. The firm had revenue of $217.17 million for the quarter, compared to analyst estimates of $114.97 million. During the same period last year, the firm earned $0.23 earnings per share. On average, research analysts forecast 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 was paid on Friday, May 16th. Investors of record on Friday, May 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend was Friday, May 2nd. Hope Bancorp's payout ratio is currently 71.79%.

Wall Street Analyst Weigh In

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.

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.