Rothschild Asset Management Inc. Acquires 67,565 Shares of Hope Bancorp, Inc. (HOPE)

Rothschild Asset Management Inc. raised its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 26.2% during the second quarter, Holdings Channel reports. The firm owned 325,290 shares of the financial services provider’s stock after buying an additional 67,565 shares during the period. Rothschild Asset Management Inc.’s holdings in Hope Bancorp were worth $6,067,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Hope Bancorp by 49,191.5% in the first quarter. BlackRock Inc. now owns 15,769,350 shares of the financial services provider’s stock valued at $302,299,000 after buying an additional 15,737,358 shares in the last quarter. Victory Capital Management Inc. boosted its position in Hope Bancorp by 45.7% in the first quarter. Victory Capital Management Inc. now owns 2,108,798 shares of the financial services provider’s stock valued at $40,426,000 after buying an additional 661,045 shares in the last quarter. Vanguard Group Inc. boosted its position in Hope Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 11,866,306 shares of the financial services provider’s stock valued at $227,477,000 after buying an additional 608,014 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in Hope Bancorp by 38.2% in the first quarter. Kennedy Capital Management Inc. now owns 1,633,153 shares of the financial services provider’s stock valued at $31,308,000 after buying an additional 451,183 shares in the last quarter. Finally, State Street Corp boosted its position in Hope Bancorp by 9.4% in the first quarter. State Street Corp now owns 4,768,202 shares of the financial services provider’s stock valued at $91,409,000 after buying an additional 411,326 shares in the last quarter. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp, Inc. (HOPE) opened at 17.49 on Tuesday. The firm has a market capitalization of $2.37 billion, a PE ratio of 15.97 and a beta of 1.39. Hope Bancorp, Inc. has a 52-week low of $15.00 and a 52-week high of $22.99. The firm’s 50-day moving average is $18.47 and its 200-day moving average is $19.40.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.02. Hope Bancorp had a net margin of 24.38% and a return on equity of 8.45%. The business had revenue of $132.94 million during the quarter, compared to analyst estimates of $136.80 million. On average, analysts anticipate that Hope Bancorp, Inc. will post $1.20 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 31st will be issued a $0.13 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.52 dividend on an annualized basis and a yield of 2.97%. This is an increase from Hope Bancorp’s previous quarterly dividend of $0.12. Hope Bancorp’s dividend payout ratio (DPR) is 47.71%.

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HOPE has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. Piper Jaffray Companies decreased their target price on shares of Hope Bancorp from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. FIG Partners upgraded shares of Hope Bancorp from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Wedbush reiterated a “neutral” rating and issued a $20.00 target price on shares of Hope Bancorp in a research note on Tuesday, June 27th. Five investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $20.75.

In other Hope Bancorp news, EVP Jason K. Kim sold 2,750 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $48,675.00. Following the completion of the sale, the executive vice president now owns 70,729 shares of the company’s stock, valued at $1,251,903.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.20% of the stock is currently owned by company insiders.

About Hope Bancorp

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

Want to see what other hedge funds are holding HOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hope Bancorp, Inc. (NASDAQ:HOPE).

Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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