LSV Asset Management Decreases Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

LSV Asset Management decreased its position in Hope Bancorp, Inc. (NASDAQ:HOPEFree Report) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,753,800 shares of the financial services provider’s stock after selling 69,100 shares during the period. LSV Asset Management owned 2.29% of Hope Bancorp worth $24,371,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Hope Bancorp by 49.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 380,128 shares of the financial services provider’s stock worth $3,201,000 after purchasing an additional 125,974 shares during the period. Inspire Investing LLC raised its holdings in shares of Hope Bancorp by 34.0% in the 2nd quarter. Inspire Investing LLC now owns 37,271 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 9,453 shares during the period. Comerica Bank bought a new stake in shares of Hope Bancorp in the 2nd quarter worth approximately $75,270,000. SG Americas Securities LLC bought a new stake in shares of Hope Bancorp in the 3rd quarter worth approximately $743,000. Finally, Rhumbline Advisers grew its stake in Hope Bancorp by 1.0% in the 2nd quarter. Rhumbline Advisers now owns 417,212 shares of the financial services provider’s stock valued at $3,513,000 after buying an additional 3,995 shares in the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HOPE. Wedbush reduced their price objective on shares of Hope Bancorp from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hope Bancorp presently has an average rating of “Hold” and a consensus target price of $10.33.

Get Our Latest Stock Analysis on HOPE

Hope Bancorp Price Performance

Shares of HOPE traded up $0.07 during mid-day trading on Friday, reaching $11.83. 577,211 shares of the stock traded hands, compared to its average volume of 647,801. The firm has a fifty day moving average price of $11.26 and a 200 day moving average price of $10.05. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 8.84 and a beta of 1.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.94. Hope Bancorp, Inc. has a 1 year low of $7.42 and a 1 year high of $13.81.

Hope Bancorp (NASDAQ:HOPEGet Free Report) last released its quarterly earnings results on Monday, October 23rd. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Hope Bancorp had a net margin of 15.07% and a return on equity of 7.77%. The firm had revenue of $143.70 million during the quarter, compared to analyst estimates of $138.18 million. During the same period in the previous year, the business earned $0.45 EPS. The business’s revenue for the quarter was down 13.7% on a year-over-year basis. As a group, equities research analysts predict that Hope Bancorp, Inc. will post 1.17 earnings per share for the current year.

About Hope Bancorp

(Free Report)

Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. Its loan products include commercial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, and other business-related financing needs; real estate loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, auto, credit card, and personal loans.

Further Reading

Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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