Vanguard Group Inc. Has $144.75 Million Holdings in Hope Bancorp, Inc. $HOPE

Key Points

• Vanguard Group Inc. sold 43,214 shares of Hope Bancorp, reducing its stake by 0.3% to approximately 13.83 million shares, valued at $144.75 million at the end of the most recent quarter.
• Hope Bancorp reported a loss of $0.22 EPS in its latest quarterly earnings, significantly missing analysts' expectations of $0.21 EPS.
• The company announced a quarterly dividend of $0.14 per share, reflecting a 5.3% dividend yield, despite having a payout ratio of 160.00%.

Vanguard Group Inc. lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,825,625 shares of the financial services provider's stock after selling 43,214 shares during the period. Vanguard Group Inc. owned approximately 11.42% of Hope Bancorp worth $144,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of HOPE. Rhino Investment Partners Inc increased its position in shares of Hope Bancorp by 55.6% during the fourth quarter. Rhino Investment Partners Inc now owns 1,684,886 shares of the financial services provider's stock worth $20,707,000 after acquiring an additional 601,876 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Hope Bancorp during the fourth quarter worth $2,945,000. Northern Trust Corp increased its position in shares of Hope Bancorp by 18.6% during the fourth quarter. Northern Trust Corp now owns 1,491,628 shares of the financial services provider's stock worth $18,332,000 after acquiring an additional 234,191 shares in the last quarter. Millennium Management LLC increased its position in shares of Hope Bancorp by 211.7% during the fourth quarter. Millennium Management LLC now owns 199,159 shares of the financial services provider's stock worth $2,448,000 after acquiring an additional 135,267 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of Hope Bancorp by 3.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,963,643 shares of the financial services provider's stock worth $36,423,000 after acquiring an additional 103,554 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Hope Bancorp presently has a consensus rating of "Moderate Buy" and an average price target of $13.25.

Hope Bancorp Stock Performance

Shares of HOPE traded down $0.0150 during midday trading on Monday, reaching $11.0250. 183,525 shares of the stock were exchanged, compared to its average volume of 939,080. Hope Bancorp, Inc. has a twelve month low of $8.82 and a twelve month high of $14.53. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.41 billion, a P/E ratio of 31.50 and a beta of 0.94. The stock's 50 day simple moving average is $10.67 and its 200 day simple moving average is $10.43.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.43). The business 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 quarter last year, the firm earned $0.22 EPS. On average, sell-side analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. Hope Bancorp's payout ratio is 160.00%.

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.