Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 88.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,072 shares of the financial services provider’s stock after purchasing an additional 15,094 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Hope Bancorp were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Denali Advisors LLC lifted its stake in shares of Hope Bancorp by 1.4% during the fourth quarter. Denali Advisors LLC now owns 283,500 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 4,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Hope Bancorp by 28.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock worth $9,345,000 after purchasing an additional 170,985 shares in the last quarter. Everhart Financial Group Inc. acquired a new position in shares of Hope Bancorp during the fourth quarter worth about $197,000. American Century Companies Inc. lifted its stake in shares of Hope Bancorp by 11.9% in the third quarter. American Century Companies Inc. now owns 1,155,150 shares of the financial services provider’s stock worth $10,223,000 after acquiring an additional 123,041 shares in the last quarter. Finally, Tudor Investment Corp Et Al lifted its stake in shares of Hope Bancorp by 234.2% in the third quarter. Tudor Investment Corp Et Al now owns 128,216 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 89,854 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HOPE. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Wedbush cut their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hope Bancorp currently has an average rating of “Hold” and a consensus target price of $11.33.

Hope Bancorp Trading Down 0.4 %

Shares of NASDAQ HOPE opened at $10.28 on Thursday. The stock’s 50 day moving average price is $10.98 and its two-hundred day moving average price is $10.63. Hope Bancorp, Inc. has a 52-week low of $7.42 and a 52-week high of $12.51. The stock has a market capitalization of $1.24 billion, a P/E ratio of 9.18 and a beta of 1.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.90.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. The firm had revenue of $135.20 million for the quarter, compared to analyst estimates of $138.47 million. During the same quarter in the previous year, the company earned $0.43 EPS. On average, analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.45%. The ex-dividend date was Thursday, February 8th. Hope Bancorp’s payout ratio is currently 50.00%.

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.