Hope Bancorp, Inc. (NASDAQ:HOPE) Holdings Cut by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 60.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,476 shares of the financial services provider's stock after selling 45,014 shares during the period. State of Tennessee Department of Treasury's holdings in Hope Bancorp were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in shares of Hope Bancorp by 12.0% during the 3rd 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 period. Assenagon Asset Management S.A. grew its holdings 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 worth $12,968,000 after acquiring an additional 337,599 shares during the period. Barclays PLC grew its holdings in Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock worth $3,183,000 after acquiring an additional 132,677 shares during the period. Bank of New York Mellon Corp raised its position in Hope Bancorp by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock worth $22,100,000 after acquiring an additional 240,192 shares in the last quarter. Finally, EMC Capital Management lifted its holdings in Hope Bancorp by 1,082.6% in the 4th quarter. EMC Capital Management now owns 29,566 shares of the financial services provider's stock valued at $363,000 after acquiring an additional 27,066 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HOPE has been the topic of several recent research reports. Piper Sandler lowered 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. StockNews.com lowered shares of Hope Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday, April 24th. Finally, DA Davidson cut their price objective on Hope Bancorp from $15.50 to $14.50 and set a "buy" rating for the company in a research report on Tuesday, January 28th.

Hope Bancorp Trading Down 0.1 %

NASDAQ HOPE traded down $0.01 on Friday, hitting $10.15. 852,689 shares of the company were exchanged, compared to its average volume of 822,003. Hope Bancorp, Inc. has a twelve month low of $8.83 and a twelve month high of $14.54. The company's 50 day moving average price is $10.03 and its 200-day moving average price is $11.57. The firm has a market capitalization of $1.23 billion, a P/E ratio of 12.38 and a beta of 0.88. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96.

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 net margin of 9.95% and a return on equity of 4.84%. The firm had revenue of $217.17 million during the quarter, compared to analyst estimates of $114.97 million. During the same quarter last year, the business posted $0.23 EPS. Analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.52%. Hope Bancorp's dividend payout ratio is 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.