Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Acquired by Northern Trust Corp

Northern Trust Corp increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 18.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,491,628 shares of the financial services provider's stock after purchasing an additional 234,191 shares during the quarter. Northern Trust Corp owned 1.24% of Hope Bancorp worth $18,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of 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 purchasing an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Hope Bancorp by 31.2% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 848 shares during the last quarter. Sterling Capital Management LLC boosted its stake in 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 last quarter. KBC Group NV boosted its stake in 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 last quarter. Finally, Cibc World Markets Corp bought a new position in Hope Bancorp during the 4th quarter valued at $133,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

Shares of Hope Bancorp stock traded up $0.01 during trading hours on Monday, reaching $10.53. The company's stock had a trading volume of 579,260 shares, compared to its average volume of 827,660. The company's 50 day simple moving average is $10.05 and its 200 day simple moving average is $11.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. The stock has a market cap of $1.35 billion, a P/E ratio of 12.84 and a beta of 0.88.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $114.97 million. During the same period last year, the firm posted $0.23 EPS. As a group, analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

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

Analysts Set New Price Targets

HOPE has been the topic of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. DA Davidson reduced 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. Finally, StockNews.com upgraded shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, May 12th.

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.