Two Sigma Advisers LP Reduces Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Two Sigma Advisers LP reduced its position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 525,863 shares of the financial services provider's stock after selling 81,100 shares during the quarter. Two Sigma Advisers LP owned approximately 0.44% of Hope Bancorp worth $6,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of HOPE. Smartleaf Asset Management LLC increased its holdings in Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,553 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hope Bancorp by 31.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after buying an additional 848 shares in the last quarter. Sterling Capital Management LLC lifted its stake in shares of Hope Bancorp by 819.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock valued at $46,000 after buying an additional 3,309 shares in the last quarter. KBC Group NV boosted its holdings in Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after buying an additional 1,901 shares during the period. Finally, Cibc World Markets Corp purchased a new position in Hope Bancorp in the 4th quarter valued at approximately $133,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HOPE. Wall Street Zen upgraded Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Piper Sandler decreased their price target on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th. Finally, DA Davidson cut their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th.

Hope Bancorp Price Performance

NASDAQ:HOPE traded up $0.27 during trading hours on Tuesday, hitting $10.29. 636,814 shares of the company's stock traded hands, compared to its average volume of 832,169. Hope Bancorp, Inc. has a 52 week low of $8.83 and a 52 week high of $14.54. The business's fifty day simple moving average is $10.01 and its two-hundred day simple moving average is $11.37. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.32 billion, a P/E ratio of 12.55 and a beta of 0.88.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The firm had revenue of $217.17 million during the quarter, compared to the consensus estimate of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same quarter last year, the company posted $0.23 EPS. On average, research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend was Friday, May 2nd. Hope Bancorp's payout ratio is 71.79%.

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.