AE Wealth Management LLC Invests $112,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

AE Wealth Management LLC bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,452 shares of the financial services provider’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System lifted its stake in shares of Hope Bancorp by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after buying an additional 1,200 shares during the last quarter. Bridge City Capital LLC boosted its holdings in shares of Hope Bancorp by 0.8% during the first quarter. Bridge City Capital LLC now owns 167,405 shares of the financial services provider’s stock worth $1,927,000 after acquiring an additional 1,263 shares during the period. Inspire Investing LLC grew its position in shares of Hope Bancorp by 4.5% in the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,413 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Hope Bancorp by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 105,134 shares of the financial services provider’s stock worth $1,210,000 after purchasing an additional 1,422 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in Hope Bancorp by 1.8% during the 2nd quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock worth $912,000 after purchasing an additional 1,484 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $12.40 on Friday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.40 and a beta of 1.13. Hope Bancorp, Inc. has a twelve month low of $8.15 and a twelve month high of $13.59. The stock has a fifty day simple moving average of $12.47 and a 200 day simple moving average of $11.34. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $116.90 million for the quarter, compared to analyst estimates of $121.27 million. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. The company’s quarterly revenue was down 20.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. Sell-side analysts expect that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.52%. Hope Bancorp’s dividend payout ratio (DPR) is presently 56.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a report on Tuesday, July 30th. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

Insider Activity

In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $12.40, for a total value of $39,680.00. Following the completion of the sale, the executive vice president now owns 25,952 shares of the company’s stock, valued at $321,804.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Hope Bancorp news, EVP Thomas Stenger sold 3,200 shares of Hope Bancorp stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $12.40, for a total transaction of $39,680.00. Following the completion of the transaction, the executive vice president now owns 25,952 shares in the company, valued at approximately $321,804.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the transaction, the director now owns 21,538 shares in the company, valued at approximately $267,071.20. The disclosure for this sale can be found here. Insiders sold a total of 25,831 shares of company stock worth $323,657 in the last three months. Company insiders own 5.29% of the company’s stock.

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.