Two Sigma Advisers LP Trims Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Two Sigma Advisers LP cut its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 13.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its stake in shares of Hope Bancorp by 181.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,553 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased 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 worth $44,000 after purchasing an additional 848 shares during the last quarter. Sterling Capital Management LLC increased 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 worth $46,000 after purchasing an additional 3,309 shares during the last quarter. KBC Group NV increased its stake in shares of Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,901 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Hope Bancorp during the 4th quarter worth about $133,000. 84.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

Hope Bancorp Stock Performance

NASDAQ HOPE traded down $0.09 during trading hours on Thursday, hitting $10.04. 111,625 shares of the company's stock traded hands, compared to its average volume of 830,182. The business's fifty day moving average price is $10.00 and its two-hundred day moving average price is $11.36. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.29 billion, a P/E ratio of 12.22 and a beta of 0.88. Hope Bancorp, Inc. has a 52 week low of $8.83 and a 52 week high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released 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. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. The company had revenue of $217.17 million for the quarter, compared to the consensus estimate of $114.97 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Equities research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 2nd were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.58%. The ex-dividend date 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.