Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by LSV Asset Management

LSV Asset Management trimmed its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,598,700 shares of the financial services provider's stock after selling 155,100 shares during the period. LSV Asset Management owned 2.16% of Hope Bancorp worth $31,392,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Hope Bancorp by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,776 shares of the financial services provider's stock valued at $15,300,000 after acquiring an additional 145,721 shares during the period. Boston Partners boosted its stake in Hope Bancorp by 32.5% in the 3rd quarter. Boston Partners now owns 1,216,170 shares of the financial services provider's stock worth $10,742,000 after purchasing an additional 298,349 shares during the period. American Century Companies Inc. grew its holdings in Hope Bancorp by 11.9% during the 3rd quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider's stock valued at $10,223,000 after buying an additional 123,041 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Hope Bancorp by 28.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider's stock valued at $9,345,000 after buying an additional 170,985 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Hope Bancorp by 70.5% during the third quarter. AQR Capital Management LLC now owns 764,007 shares of the financial services provider's stock valued at $6,761,000 after buying an additional 315,935 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE traded down $0.01 on Monday, reaching $10.83. The company's stock had a trading volume of 787,301 shares, compared to its average volume of 684,698. The company has a 50-day simple moving average of $10.87 and a 200 day simple moving average of $10.80. Hope Bancorp, Inc. has a 52-week low of $7.45 and a 52-week high of $12.51. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $1.31 billion, a P/E ratio of 10.83 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The company had revenue of $123.30 million during the quarter, compared to analysts' expectations of $130.42 million. During the same quarter in the prior year, the business posted $0.33 EPS. The company's revenue was down 14.9% on a year-over-year basis. As a group, equities research analysts anticipate that Hope Bancorp, Inc. will post 0.98 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.56 annualized dividend and a yield of 5.17%. Hope Bancorp's payout ratio is presently 56.00%.

Analyst Ratings Changes

HOPE has been the subject of several research analyst reports. DA Davidson raised shares of Hope Bancorp from a "neutral" rating to a "buy" rating and set a $12.50 target price for the company in a research note on Tuesday, April 30th. Wedbush cut their price objective on Hope Bancorp from $12.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their target price on Hope Bancorp from $13.00 to $12.00 and set a "market perform" rating on the stock in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $11.83.

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.