American Century Companies Inc. Grows Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

American Century Companies Inc. grew its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 12.5% during the 4th quarter, HoldingsChannel reports. The fund owned 2,552,914 shares of the financial services provider’s stock after purchasing an additional 283,514 shares during the quarter. American Century Companies Inc.’s holdings in Hope Bancorp were worth $31,375,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its holdings in Hope Bancorp by 31.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after buying an additional 848 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 919 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 worth $29,000 after acquiring an additional 1,553 shares during the last quarter. Intech Investment Management LLC lifted its position in Hope Bancorp by 3.7% in the 3rd quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock valued at $609,000 after acquiring an additional 1,744 shares in the last quarter. Finally, KBC Group NV boosted its stake in Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,901 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

Shares of HOPE opened at $10.42 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 12.71 and a beta of 1.15. 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, Inc. has a one year low of $9.80 and a one year high of $14.54. The business has a fifty day moving average of $11.11 and a 200 day moving average of $12.19.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. As a group, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.14 dividend. The ex-dividend date was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 5.37%. Hope Bancorp’s payout ratio is presently 68.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HOPE shares. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Piper Sandler decreased their target price 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. Finally, 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 report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.88.

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.29% of the company’s stock.

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.