Hope Bancorp, Inc. (NASDAQ:HOPE) Stake Raised by Northern Trust Corp

Northern Trust Corp raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,491,628 shares of the financial services provider's stock after buying an additional 234,191 shares during the period. Northern Trust Corp owned approximately 1.24% of Hope Bancorp worth $18,332,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider's stock valued at $29,000 after buying an additional 1,553 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider's stock worth $44,000 after purchasing an additional 848 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of Hope Bancorp by 819.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider's stock worth $46,000 after purchasing an additional 3,309 shares during the last quarter. KBC Group NV lifted its position in shares of Hope Bancorp by 36.6% during the fourth 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 during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Hope Bancorp during the fourth quarter worth about $133,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HOPE. DA Davidson reduced their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. StockNews.com raised shares of Hope Bancorp from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Piper Sandler reduced their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating on the stock in a research report on Thursday, January 30th.

Hope Bancorp Stock Performance

NASDAQ HOPE traded down $0.03 during trading hours on Friday, reaching $10.52. The company's stock had a trading volume of 757,740 shares, compared to its average volume of 826,996. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $10.04 and a 200 day simple moving average of $11.51. Hope Bancorp, Inc. has a 52 week low of $8.83 and a 52 week high of $14.54. The stock has a market cap of $1.35 billion, a PE ratio of 12.83 and a beta of 0.88.

Hope Bancorp (NASDAQ:HOPE - Get Free Report) last issued its 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 firm had revenue of $217.17 million for the quarter, compared to analysts' expectations of $114.97 million. During the same quarter last year, the company posted $0.23 earnings per share. Equities research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

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

About Hope Bancorp

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.