Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 2,857,750.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 57,157 shares of the financial services provider’s stock after acquiring an additional 57,155 shares during the period. AlphaQuest LLC’s holdings in Hope Bancorp were worth $702,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp raised its stake in Hope Bancorp by 1.9% during the third quarter. State Street Corp now owns 6,152,656 shares of the financial services provider’s stock worth $77,277,000 after purchasing an additional 112,824 shares during the period. Wellington Management Group LLP raised its stake in Hope Bancorp by 30.1% during the third quarter. Wellington Management Group LLP now owns 4,553,508 shares of the financial services provider’s stock worth $57,192,000 after purchasing an additional 1,054,124 shares during the period. Geode Capital Management LLC raised its stake in shares of Hope Bancorp by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock valued at $35,703,000 after acquiring an additional 48,237 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hope Bancorp by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,374,629 shares of the financial services provider’s stock valued at $29,184,000 after acquiring an additional 28,414 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Hope Bancorp by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider’s stock valued at $22,100,000 after acquiring an additional 240,192 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. DA Davidson cut their target price 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. Finally, Piper Sandler cut their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.88.

Hope Bancorp Stock Performance

Hope Bancorp stock opened at $10.28 on Wednesday. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. The firm’s fifty day moving average price is $11.48 and its 200 day moving average price is $12.38.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly 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 net margin of 9.95% and a return on equity of 4.84%. On average, research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th 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 6th. Hope Bancorp’s dividend payout ratio (DPR) is 68.29%.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.29% of the stock is currently owned by insiders.

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.