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

Wellington Management Group LLP decreased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 approximately 3.58% of Hope Bancorp worth $53,143,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,553 shares during the period. Sterling Capital Management LLC grew its position 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 acquiring an additional 3,309 shares during the period. KBC Group NV grew its position 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 valued at $87,000 after acquiring an additional 1,901 shares during the period. Cibc World Markets Corp bought a new position in Hope Bancorp in the 4th quarter worth approximately $133,000. Finally, Algert Global LLC purchased a new stake in Hope Bancorp in the 4th quarter worth approximately $135,000. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

Hope Bancorp Trading Down 1.4%

Shares of HOPE traded down $0.15 during trading hours on Monday, reaching $9.90. 532,111 shares of the company traded hands, compared to its average volume of 943,355. Hope Bancorp, Inc. has a 12 month low of $8.82 and a 12 month high of $14.53. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 12.07 and a beta of 0.88. The company's fifty day moving average price is $9.98 and its two-hundred day moving average price is $11.27. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

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. 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 during the quarter, compared to analysts' expectations of $114.97 million. During the same period last year, the company posted $0.23 EPS. Equities research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.56 annualized dividend and a dividend yield of 5.66%. Hope Bancorp's dividend payout ratio is presently 71.79%.

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.