74,241 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 74,241 shares of the financial services provider's stock, valued at approximately $912,000. Raymond James Financial Inc. owned approximately 0.06% of Hope Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Hope Bancorp by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider's stock valued at $11,218,000 after purchasing an additional 95,570 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Hope Bancorp by 47.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider's stock valued at $12,968,000 after purchasing an additional 337,599 shares during the last quarter. Barclays PLC lifted its stake in Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock valued at $3,183,000 after purchasing an additional 132,677 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Hope Bancorp by 15.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock valued at $22,100,000 after purchasing an additional 240,192 shares during the last quarter. Finally, EMC Capital Management lifted its stake in Hope Bancorp by 1,082.6% during the fourth quarter. EMC Capital Management now owns 29,566 shares of the financial services provider's stock valued at $363,000 after purchasing an additional 27,066 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HOPE shares. DA Davidson reduced their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Piper Sandler reduced 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 report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Hope Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th.

Hope Bancorp Stock Performance

HOPE stock traded down $0.01 during midday trading on Friday, hitting $10.15. The stock had a trading volume of 852,689 shares, compared to its average volume of 822,003. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 12.38 and a beta of 0.88. Hope Bancorp, Inc. has a 52 week low of $8.83 and a 52 week high of $14.54. The stock has a 50-day simple moving average of $10.03 and a 200 day simple moving average of $11.56. 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 announced its earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. The company had revenue of $217.17 million during the quarter, compared to analyst estimates of $114.97 million. During the same period last year, the company posted $0.23 earnings per share. As a group, equities research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Friday, May 2nd. Hope Bancorp's dividend payout ratio (DPR) is presently 71.79%.

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.