O Shaughnessy Asset Management LLC increased its position in Hope Bancorp, Inc. (NASDAQ:HOPE – Free Report) by 17.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,112 shares of the financial services provider’s stock after buying an additional 32,397 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.18% of Hope Bancorp worth $1,930,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of HOPE. Advisor Group Holdings Inc. lifted its holdings in shares of Hope Bancorp by 51.3% in the first quarter. Advisor Group Holdings Inc. now owns 3,873 shares of the financial services provider’s stock valued at $63,000 after buying an additional 1,313 shares during the period. Citigroup Inc. lifted its holdings in shares of Hope Bancorp by 4.3% in the first quarter. Citigroup Inc. now owns 118,438 shares of the financial services provider’s stock valued at $1,904,000 after buying an additional 4,897 shares during the period. Natixis Advisors L.P. lifted its holdings in shares of Hope Bancorp by 39.8% in the first quarter. Natixis Advisors L.P. now owns 19,861 shares of the financial services provider’s stock valued at $319,000 after buying an additional 5,651 shares during the period. Bank of Montreal Can lifted its holdings in shares of Hope Bancorp by 57.3% in the first quarter. Bank of Montreal Can now owns 70,698 shares of the financial services provider’s stock valued at $1,184,000 after buying an additional 25,743 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Hope Bancorp by 70.6% in the first quarter. MetLife Investment Management LLC now owns 61,401 shares of the financial services provider’s stock valued at $987,000 after buying an additional 25,417 shares during the period. Institutional investors and hedge funds own 83.62% of the company’s stock.
Hope Bancorp Stock Down 0.6 %
NASDAQ:HOPE opened at $10.90 on Friday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.73 and a beta of 1.13. Hope Bancorp, Inc. has a 1-year low of $7.42 and a 1-year high of $12.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $11.42 and its 200 day moving average price is $10.25.
Hope Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 9th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.14%. The ex-dividend date was Thursday, February 8th. Hope Bancorp’s payout ratio is currently 50.00%.
Analyst Upgrades and Downgrades
HOPE has been the subject of several research analyst reports. StockNews.com upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Wedbush reduced their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Four analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.33.
Get Our Latest Analysis on Hope Bancorp
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services for small and medium-sized businesses, and individuals in the United States. It accepts personal and business checking, money market, savings, time deposit, and individual retirement accounts. Its loan products include commercial loans to businesses for various purposes, such as working capital, purchasing inventory, debt refinancing, business acquisitions, and other business-related financing needs; real estate loans; small business administration loans; and consumer loans, such as single-family mortgage, home equity, auto, credit card, and personal loans.
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