Invesco Ltd. Grows Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Invesco Ltd. lifted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 72.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,339,171 shares of the financial services provider's stock after buying an additional 564,014 shares during the quarter. Invesco Ltd. owned about 1.11% of Hope Bancorp worth $16,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock worth $44,000 after acquiring an additional 848 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Hope Bancorp by 181.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock worth $29,000 after purchasing an additional 1,553 shares during the period. KBC Group NV lifted its holdings in shares of Hope Bancorp by 36.6% in the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,901 shares in the last quarter. LPL Financial LLC grew its position in Hope Bancorp by 11.1% in the 4th quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider's stock valued at $301,000 after purchasing an additional 2,443 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in Hope Bancorp by 21.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,432 shares of the financial services provider's stock valued at $202,000 after purchasing an additional 2,922 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.29% of the stock is owned by company insiders.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock traded down $0.19 during mid-day trading on Friday, hitting $10.06. 651,280 shares of the stock were exchanged, compared to its average volume of 817,433. The company has a market capitalization of $1.22 billion, a P/E ratio of 12.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The company has a 50-day simple moving average of $10.22 and a 200 day simple moving average of $11.79. 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 issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $217.17 million for the quarter, compared to analyst estimates of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same period last year, the company posted $0.23 earnings per share. Sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date is Friday, May 2nd. Hope Bancorp's dividend payout ratio (DPR) is currently 68.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson dropped their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler lowered their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com downgraded Hope Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.88.

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.