Loomis Sayles & Co. L P Increases Stock Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Loomis Sayles & Co. L P increased its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 776,103 shares of the financial services provider’s stock after buying an additional 15,410 shares during the quarter. Loomis Sayles & Co. L P owned 0.64% of Hope Bancorp worth $9,538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Smartleaf Asset Management LLC grew its stake in shares of Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 848 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Hope Bancorp in the 3rd quarter valued at about $58,000. KBC Group NV lifted its position in shares of Hope Bancorp by 36.6% during the 4th quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,901 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in shares of Hope Bancorp in the 4th quarter worth approximately $133,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $10.42 on Friday. The company has a market capitalization of $1.26 billion, a P/E ratio of 12.71 and a beta of 1.15. The business has a fifty day simple moving average of $11.11 and a two-hundred day simple moving average of $12.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 1 year low of $9.80 and a 1 year high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. On average, analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.37%. The ex-dividend date was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HOPE. Piper Sandler decreased their price target on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, DA Davidson cut their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.88.

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.