Massachusetts Financial Services Co. MA Makes New $587,000 Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Massachusetts Financial Services Co. MA acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 54,629 shares of the financial services provider’s stock, valued at approximately $587,000.

Several other hedge funds also recently modified their holdings of HOPE. SageView Advisory Group LLC bought a new stake in Hope Bancorp during the first quarter worth about $49,000. Fifth Third Bancorp raised its stake in shares of Hope Bancorp by 149.5% during the 2nd quarter. Fifth Third Bancorp now owns 5,279 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 3,163 shares in the last quarter. CWM LLC raised its stake in shares of Hope Bancorp by 39.1% during the 1st quarter. CWM LLC now owns 8,939 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 2,513 shares in the last quarter. Choreo LLC bought a new stake in shares of Hope Bancorp during the 2nd quarter worth approximately $108,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Hope Bancorp by 8.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 12,814 shares of the financial services provider’s stock valued at $155,000 after buying an additional 1,033 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at Hope Bancorp

In related news, Director Jinho Doo sold 10,703 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $12.40, for a total value of $132,717.20. Following the completion of the sale, the director now directly owns 21,538 shares in the company, valued at approximately $267,071.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jinho Doo sold 10,703 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $12.40, for a total transaction of $132,717.20. Following the transaction, the director now directly owns 21,538 shares of the company’s stock, valued at $267,071.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David P. Malone sold 10,428 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the completion of the sale, the director now directly owns 109,991 shares of the company’s stock, valued at approximately $1,397,985.61. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,831 shares of company stock worth $323,657. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Trading Down 2.7 %

HOPE stock opened at $12.85 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.95. The company has a fifty day moving average price of $12.47 and a two-hundred day moving average price of $11.29. Hope Bancorp, Inc. has a one year low of $8.15 and a one year high of $13.59. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 12.85 and a beta of 1.13.

Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Monday, July 29th. The financial services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $116.90 million during the quarter, compared to the consensus estimate of $121.27 million. Hope Bancorp had a net margin of 10.02% and a return on equity of 5.85%. Hope Bancorp’s revenue was down 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. Equities analysts anticipate that Hope Bancorp, Inc. will post 0.89 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Thursday, August 8th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Analysts Set New Price Targets

Several analysts have issued reports on HOPE shares. Keefe, Bruyette & Woods upped their price target on shares of Hope Bancorp from $12.00 to $14.00 and gave the stock a “market perform” rating in a research 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.

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.