Versor Investments LP Takes $284,000 Position in Hope Bancorp, Inc. $HOPE

Key Points

• Versor Investments LP has invested approximately $284,000 in Hope Bancorp, acquiring 27,100 shares during the first quarter of the year.
• Hope Bancorp reported a loss of $0.22 EPS for its most recent quarter, missing analysts' estimates by $0.43.
• The company has declared a quarterly dividend of $0.14 per share, with an annual yield of 5.4% despite a high dividend payout ratio of 160%.

Versor Investments LP purchased a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,100 shares of the financial services provider's stock, valued at approximately $284,000.

Several other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Hope Bancorp in the first quarter worth approximately $607,000. American Century Companies Inc. boosted its position in shares of Hope Bancorp by 7.7% in the first quarter. American Century Companies Inc. now owns 2,749,086 shares of the financial services provider's stock worth $28,783,000 after acquiring an additional 196,172 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of Hope Bancorp in the first quarter worth approximately $884,000. Public Sector Pension Investment Board boosted its position in shares of Hope Bancorp by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 382,971 shares of the financial services provider's stock worth $4,010,000 after acquiring an additional 82,139 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Hope Bancorp in the first quarter worth approximately $3,451,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Hope Bancorp Trading Up 0.8%

HOPE stock traded up $0.09 during midday trading on Wednesday, reaching $11.14. 496,898 shares of the company's stock traded hands, compared to its average volume of 964,669. The company has a market capitalization of $1.43 billion, a P/E ratio of 31.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.94 and a quick ratio of 0.94. Hope Bancorp, Inc. has a fifty-two week low of $8.82 and a fifty-two week high of $14.53. The business has a 50-day moving average price of $10.73 and a two-hundred day moving average price of $10.44.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.43). The business had revenue of $94.58 million for the quarter, compared to analyst estimates of $133.90 million. Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. During the same period last year, the firm earned $0.22 earnings per share. Equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared 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. This represents a $0.56 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Friday, August 1st. Hope Bancorp's payout ratio is 160.00%.

About Hope Bancorp

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.