Y Intercept Hong Kong Ltd Reduces Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Key Points

• Y Intercept Hong Kong Ltd significantly reduced its holdings in Hope Bancorp, Inc. by 81.3%, selling 43,451 shares during the first quarter.
• Hope Bancorp's shares are currently trading at $9.71 with a market capitalization of $1.24 billion and a recent earnings report showing a miss on EPS estimates.
• The company has announced a quarterly dividend of $0.14 per share, representing a yield of 5.8%, with a high dividend payout ratio of 160.00%.

Y Intercept Hong Kong Ltd lowered its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 81.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,020 shares of the financial services provider's stock after selling 43,451 shares during the period. Y Intercept Hong Kong Ltd's holdings in Hope Bancorp were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in Hope Bancorp by 819.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after acquiring an additional 3,309 shares during the last quarter. KBC Group NV grew its position in Hope Bancorp by 16.6% during the 1st quarter. KBC Group NV now owns 8,269 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,176 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Hope Bancorp during the 1st quarter worth about $105,000. Algert Global LLC acquired a new stake in shares of Hope Bancorp during the 4th quarter valued at about $135,000. Finally, Quantinno Capital Management LP grew its position in shares of Hope Bancorp by 15.2% during the 4th quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider's stock valued at $166,000 after acquiring an additional 1,786 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

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

Hope Bancorp Price Performance

HOPE traded up $0.16 during trading on Tuesday, reaching $10.10. The company's stock had a trading volume of 579,198 shares, compared to its average volume of 945,499. The company has a quick ratio of 0.96, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $10.59. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $14.53. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 28.79 and a beta of 0.94.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.43). The firm had revenue of $94.58 million for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.22 EPS. As a group, analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.56 dividend on an annualized basis and a yield of 5.5%. Hope Bancorp's payout ratio is presently 160.00%.

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.