EMC Capital Management Has $363,000 Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

EMC Capital Management grew its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1,082.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,566 shares of the financial services provider’s stock after acquiring an additional 27,066 shares during the quarter. EMC Capital Management’s holdings in Hope Bancorp were worth $363,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. KBC Group NV raised its stake in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,901 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised 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 valued at $44,000 after buying an additional 848 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Hope Bancorp by 47.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after acquiring an additional 337,599 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Hope Bancorp by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock valued at $11,218,000 after acquiring an additional 95,570 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Hope Bancorp by 9.0% in the third quarter. Principal Financial Group Inc. now owns 648,095 shares of the financial services provider’s stock valued at $8,140,000 after acquiring an additional 53,587 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Piper Sandler cut their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Finally, DA Davidson dropped their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.88.

Insiders Place Their Bets

In other Hope Bancorp news, EVP Angelee Harris sold 3,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $14.16, for a total transaction of $42,480.00. Following the transaction, the executive vice president now owns 19,795 shares of the company’s stock, valued at approximately $280,297.20. This represents a 13.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daisy Y. Ha sold 27,104 shares of Hope Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the completion of the sale, the director now directly owns 446,806 shares of the company’s stock, valued at $6,179,326.98. This trade represents a 5.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 129,224 shares of company stock valued at $1,737,873 in the last 90 days. 5.29% of the stock is currently owned by insiders.

Hope Bancorp Stock Performance

NASDAQ HOPE opened at $11.83 on Thursday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 14.07 and a beta of 1.16. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.10. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53. The company has a 50 day moving average of $12.64 and a 200-day moving average of $12.64.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 5.52% and a net margin of 9.81%. On average, equities analysts forecast that Hope Bancorp, Inc. will post 0.85 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 4.74%. Hope Bancorp’s dividend payout ratio (DPR) is 66.67%.

Hope Bancorp 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.