LSV Asset Management Sells 155,100 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

LSV Asset Management reduced its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,598,700 shares of the financial services provider’s stock after selling 155,100 shares during the quarter. LSV Asset Management owned 2.16% of Hope Bancorp worth $31,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. bought a new position in shares of Hope Bancorp during the third quarter valued at about $132,000. Everhart Financial Group Inc. bought a new stake in shares of Hope Bancorp in the fourth quarter worth about $197,000. EMC Capital Management grew its stake in shares of Hope Bancorp by 57.9% in the third quarter. EMC Capital Management now owns 23,066 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 8,460 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hope Bancorp by 35.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,700 shares of the financial services provider’s stock worth $236,000 after purchasing an additional 7,040 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Hope Bancorp by 88.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 32,072 shares of the financial services provider’s stock valued at $387,000 after acquiring an additional 15,094 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Trading Up 2.2 %

Shares of HOPE stock opened at $10.84 on Monday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 10.84 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average price of $10.87 and a 200-day moving average price of $10.78. Hope Bancorp, Inc. has a 1 year low of $7.42 and a 1 year high of $12.51.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.21 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.05). The company had revenue of $123.30 million during the quarter, compared to analysts’ expectations of $130.42 million. Hope Bancorp had a return on equity of 6.43% and a net margin of 10.80%. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, equities analysts predict that Hope Bancorp, Inc. will post 0.98 earnings per share for the current year.

Hope Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.17%. The ex-dividend date of this dividend is Wednesday, May 8th. Hope Bancorp’s dividend payout ratio is 56.00%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HOPE. Keefe, Bruyette & Woods cut their price objective on Hope Bancorp from $13.00 to $12.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 1st. DA Davidson raised Hope Bancorp from a “neutral” rating to a “buy” rating and set a $12.50 price objective on the stock in a research report on Tuesday, April 30th. Finally, Wedbush lowered their target price on shares of Hope Bancorp from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.83.

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.