Rhino Investment Partners Inc Acquires 601,876 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Rhino Investment Partners Inc lifted its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 55.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,684,886 shares of the financial services provider's stock after acquiring an additional 601,876 shares during the period. Hope Bancorp comprises approximately 4.6% of Rhino Investment Partners Inc's holdings, making the stock its 6th largest holding. Rhino Investment Partners Inc owned about 1.40% of Hope Bancorp worth $20,707,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new position in Hope Bancorp in the fourth quarter valued at approximately $193,000. Comerica Bank boosted its position in Hope Bancorp by 27.1% during the 4th quarter. Comerica Bank now owns 129,813 shares of the financial services provider's stock valued at $1,595,000 after purchasing an additional 27,669 shares during the period. Northern Trust Corp grew its stake in Hope Bancorp by 18.6% during the 4th quarter. Northern Trust Corp now owns 1,491,628 shares of the financial services provider's stock worth $18,332,000 after buying an additional 234,191 shares during the last quarter. Voya Investment Management LLC increased its position in Hope Bancorp by 3.7% in the fourth quarter. Voya Investment Management LLC now owns 100,410 shares of the financial services provider's stock worth $1,234,000 after buying an additional 3,579 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Hope Bancorp by 8.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 108,187 shares of the financial services provider's stock valued at $1,330,000 after buying an additional 8,715 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Price Performance

HOPE traded up $0.01 on Friday, reaching $10.06. The company had a trading volume of 1,503,490 shares, compared to its average volume of 819,372. The company has a fifty day moving average of $10.10 and a 200-day moving average of $11.67. The company has a market capitalization of $1.22 billion, a P/E ratio of 12.27 and a beta of 0.96. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. 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 posted its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $114.97 million. During the same quarter in the previous year, the business earned $0.23 EPS. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.57%. The ex-dividend date of this dividend is Friday, May 2nd. Hope Bancorp's dividend payout ratio is presently 71.79%.

Analyst Upgrades and Downgrades

HOPE has been the subject of several recent research reports. StockNews.com lowered shares of Hope Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. DA Davidson dropped 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 note on Tuesday, January 28th. Finally, Piper Sandler reduced their price objective on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th.

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.