Frontier Capital Management Co. LLC Acquires 103,554 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Frontier Capital Management Co. LLC lifted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,963,643 shares of the financial services provider's stock after purchasing an additional 103,554 shares during the period. Frontier Capital Management Co. LLC owned 2.45% of Hope Bancorp worth $36,423,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Deutsche Bank AG boosted its stake in Hope Bancorp by 49.4% in the 4th quarter. Deutsche Bank AG now owns 101,614 shares of the financial services provider's stock worth $1,249,000 after purchasing an additional 33,585 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Hope Bancorp by 0.8% in the 4th quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider's stock valued at $1,459,000 after acquiring an additional 977 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Hope Bancorp by 2.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 936,036 shares of the financial services provider's stock valued at $11,504,000 after purchasing an additional 21,082 shares during the period. Algert Global LLC purchased a new stake in Hope Bancorp during the 4th quarter valued at $135,000. Finally, Rhino Investment Partners Inc grew its stake in shares of Hope Bancorp by 55.6% in 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 purchasing an additional 601,876 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Hope Bancorp Stock Performance

HOPE stock traded down $0.11 during midday trading on Wednesday, reaching $10.53. 313,659 shares of the company's stock traded hands, compared to its average volume of 821,572. Hope Bancorp, Inc. has a 52-week low of $8.83 and a 52-week high of $14.54. The stock's 50-day moving average is $10.03 and its 200 day moving average is $11.54. The stock has a market cap of $1.27 billion, a P/E ratio of 12.84 and a beta of 0.88. The company has a current ratio of 0.97, a quick ratio of 0.96 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 for the quarter, beating the consensus estimate of $0.18 by $0.01. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. The business had revenue of $217.17 million for the quarter, compared to the consensus estimate of $114.97 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 2nd will be issued a $0.14 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 5.32%. Hope Bancorp's dividend payout ratio is currently 71.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HOPE shares. Piper Sandler decreased their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday. Finally, DA Davidson decreased their target price on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th.

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.