19,730 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Purchased by A&I Financial Services LLC

A&I Financial Services LLC acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,730 shares of the financial services provider’s stock, valued at approximately $242,000.

Several other hedge funds have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its stake in Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 848 shares in the last quarter. Quantinno Capital Management LP boosted its stake in 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 worth $147,000 after acquiring an additional 919 shares in the last quarter. Intech Investment Management LLC boosted its stake in Hope Bancorp by 3.7% during the third quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 1,744 shares in the last quarter. KBC Group NV boosted its stake in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,901 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Hope Bancorp by 13.6% during the third quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 2,534 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HOPE. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Piper Sandler dropped their target price 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. Finally, DA Davidson dropped their target price 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.88.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were 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 in the company, valued at approximately $227,928.61. This trade represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.29% of the company’s stock.

Hope Bancorp Stock Up 0.1 %

HOPE opened at $10.82 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $11.77 and a 200-day moving average price of $12.46. Hope Bancorp, Inc. has a twelve month low of $9.80 and a twelve month high of $14.54. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 13.20 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share 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%. Equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share 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 5.18%. Hope Bancorp’s payout ratio is presently 68.29%.

About Hope Bancorp

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.