Quantbot Technologies LP Acquires 47,522 Shares of Hope Bancorp, Inc. $HOPE

Key Points

• Quantbot Technologies LP increased its stake in Hope Bancorp by 157.7%, owning 77,665 shares worth $813,000 after acquiring 47,522 additional shares during the first quarter.
• Wall Street analysts have upgraded Hope Bancorp from a "sell" to a "hold" rating, with a consensus target price of $13.25 and an average rating of "Moderate Buy."
• Hope Bancorp recently announced a quarterly dividend of $0.14 per share, which represents an annualized yield of 5.1% despite a high dividend payout ratio of 160.00%.

Quantbot Technologies LP boosted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 157.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,665 shares of the financial services provider's stock after buying an additional 47,522 shares during the quarter. Quantbot Technologies LP owned approximately 0.06% of Hope Bancorp worth $813,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Cresset Asset Management LLC boosted its stake in Hope Bancorp by 0.8% in 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 in the last quarter. KBC Group NV boosted its stake in shares of Hope Bancorp by 16.6% during 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. SummerHaven Investment Management LLC boosted its stake in shares of Hope Bancorp by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 72,836 shares of the financial services provider's stock valued at $763,000 after purchasing an additional 1,233 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Hope Bancorp by 14.7% during the first 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 in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Hope Bancorp by 15.2% during the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider's stock valued at $166,000 after purchasing an additional 1,786 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Hope Bancorp Trading Down 0.5%

Shares of Hope Bancorp stock traded down $0.06 during midday trading on Friday, reaching $11.13. The company had a trading volume of 504,194 shares, compared to its average volume of 883,237. The stock has a fifty day moving average price of $10.77 and a 200 day moving average price of $10.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $1.43 billion, a PE ratio of 31.80 and a beta 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 posted its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.43). The company had revenue of $94.58 million during 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 in the prior year, the firm earned $0.22 earnings per share. On average, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on HOPE. Zacks Research lowered 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 equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Hope Bancorp currently has an average rating of "Hold" and an average target price 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.