Hope Bancorp, Inc. $HOPE Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,971 shares of the financial services provider's stock after purchasing an additional 82,139 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Hope Bancorp worth $4,010,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cresset Asset Management LLC increased its stake in shares of Hope Bancorp by 0.8% during the fourth quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider's stock valued at $1,459,000 after buying an additional 977 shares during the period. KBC Group NV lifted its stake in Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock worth $87,000 after acquiring an additional 1,176 shares during the period. SummerHaven Investment Management LLC grew its holdings in Hope Bancorp by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 72,836 shares of the financial services provider's stock worth $763,000 after acquiring an additional 1,233 shares in the last quarter. Legal & General Group Plc increased its position in Hope Bancorp by 0.5% during the 4th quarter. Legal & General Group Plc now owns 339,560 shares of the financial services provider's stock valued at $4,173,000 after purchasing an additional 1,560 shares during the period. Finally, Cerity Partners LLC increased its position in Hope Bancorp by 14.7% during the 1st quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider's stock valued at $145,000 after purchasing an additional 1,772 shares during the period. Institutional investors own 84.00% of the company's stock.

Hope Bancorp Stock Performance

NASDAQ HOPE traded down $0.0850 on Thursday, hitting $10.3850. 307,071 shares of the company's stock traded hands, compared to its average volume of 939,186. 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 firm's 50-day moving average price is $10.65 and its two-hundred day moving average price is $10.46. Hope Bancorp, Inc. has a 1-year low of $8.82 and a 1-year high of $14.53. The firm has a market capitalization of $1.33 billion, a PE ratio of 29.70 and a beta of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (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 firm had revenue of $94.58 million during the quarter, compared to analyst estimates of $133.90 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 1st. This represents a $0.56 dividend on an annualized basis and a yield of 5.4%. Hope Bancorp's dividend payout ratio is currently 160.00%.

Analyst Ratings Changes

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. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.25.

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.