Wellington Management Group LLP Decreases Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Wellington Management Group LLP trimmed its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,324,117 shares of the financial services provider's stock after selling 229,391 shares during the quarter. Wellington Management Group LLP owned 3.58% of Hope Bancorp worth $53,143,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HOPE. Rhino Investment Partners Inc raised its position in shares of Hope Bancorp by 55.6% during the 4th quarter. Rhino Investment Partners Inc now owns 1,684,886 shares of the financial services provider's stock valued at $20,707,000 after buying an additional 601,876 shares in the last quarter. Invesco Ltd. raised its position in shares of Hope Bancorp by 72.8% during the 4th quarter. Invesco Ltd. now owns 1,339,171 shares of the financial services provider's stock valued at $16,458,000 after buying an additional 564,014 shares in the last quarter. Norges Bank purchased a new stake in shares of Hope Bancorp during the 4th quarter valued at about $4,001,000. American Century Companies Inc. raised its position in shares of Hope Bancorp by 12.5% during the 4th quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider's stock valued at $31,375,000 after buying an additional 283,514 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Hope Bancorp by 15.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock valued at $22,100,000 after buying an additional 240,192 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Trading Up 1.4%

HOPE stock traded up $0.14 during mid-day trading on Tuesday, reaching $10.03. The company had a trading volume of 121,564 shares, compared to its average volume of 831,765. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The company has a market capitalization of $1.28 billion, a PE ratio of 12.23 and a beta of 0.88. The firm has a 50 day moving average of $9.97 and a 200 day moving average of $11.25. Hope Bancorp, Inc. has a 12 month low of $8.83 and a 12 month high of $14.54.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $217.17 million for the quarter, compared to the consensus estimate of $114.97 million. During the same period last year, the firm earned $0.23 earnings per share. On average, equities analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.58%. Hope Bancorp's dividend payout ratio is presently 71.79%.

Wall Street Analysts Forecast Growth

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.

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.