Cibc World Markets Corp Buys Shares of 10,850 Hope Bancorp, Inc. (NASDAQ:HOPE)

Cibc World Markets Corp purchased a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) in the fourth quarter, Holdings Channel.com reports. The firm purchased 10,850 shares of the financial services provider’s stock, valued at approximately $133,000.

Several other hedge funds have also recently made changes to their positions in HOPE. Smartleaf Asset Management LLC boosted its position in Hope Bancorp by 181.9% in the fourth 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 during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 848 shares during the period. Quantbot Technologies LP purchased a new position in shares of Hope Bancorp in the third quarter worth approximately $58,000. KBC Group NV grew its position 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 valued at $87,000 after buying an additional 1,901 shares during the period. Finally, Quantinno Capital Management LP increased its holdings 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 valued at $147,000 after buying an additional 919 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.29% of the stock is owned by company insiders.

Hope Bancorp Trading Down 0.2 %

Shares of HOPE stock opened at $10.64 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a fifty day simple moving average of $11.14 and a two-hundred day simple moving average of $12.21. The firm has a market capitalization of $1.28 billion, a PE ratio of 12.98 and a beta of 1.15. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping 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%. On average, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Analyst Ratings Changes

HOPE has been the topic of several analyst reports. 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 research note on Tuesday, January 28th. Piper Sandler cut their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.