74,080 Shares in Hope Bancorp, Inc. (NASDAQ:HOPE) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 74,080 shares of the financial services provider’s stock, valued at approximately $910,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Hope Bancorp at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB raised its stake in Hope Bancorp by 31.2% during the 4th 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 period. Quantinno Capital Management LP raised its stake in Hope Bancorp by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after buying an additional 919 shares during the period. Smartleaf Asset Management LLC increased its holdings in Hope Bancorp by 181.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,553 shares in the last quarter. Intech Investment Management LLC increased its holdings in Hope Bancorp by 3.7% during the 3rd quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 1,744 shares in the last quarter. Finally, KBC Group NV increased its holdings 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 worth $87,000 after purchasing an additional 1,901 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the transaction, the executive vice president now 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 document filed with the SEC, which is accessible through this hyperlink. 5.29% of the stock is currently owned by corporate insiders.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $10.43 on Friday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.72 and a beta of 1.15. The business has a 50-day moving average of $11.26 and a 200-day moving average of $12.27. 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 fifty-two week low of $9.80 and a fifty-two week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last announced 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 return on equity of 4.84% and a net margin of 9.95%. As a group, sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s payout ratio is currently 68.29%.

Analysts Set New Price Targets

A number of research firms have issued reports on HOPE. Piper Sandler lowered their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. DA Davidson lowered their target price on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.88.

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.