Context BH Capital Management LP Purchases 92,326 Shares of Hope Bancorp, Inc. (HOPE)

Context BH Capital Management LP boosted its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 43.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 304,182 shares of the financial services provider’s stock after purchasing an additional 92,326 shares during the quarter. Hope Bancorp comprises 1.8% of Context BH Capital Management LP’s holdings, making the stock its 18th biggest position. Context BH Capital Management LP owned approximately 0.22% of Hope Bancorp worth $5,387,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in Hope Bancorp by 0.3% in the 2nd quarter. BlackRock Inc. now owns 15,820,716 shares of the financial services provider’s stock valued at $295,054,000 after purchasing an additional 51,366 shares during the last quarter. Vanguard Group Inc. lifted its position in Hope Bancorp by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 12,011,407 shares of the financial services provider’s stock valued at $224,013,000 after purchasing an additional 145,101 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Hope Bancorp by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,497,731 shares of the financial services provider’s stock valued at $139,835,000 after purchasing an additional 363,079 shares during the last quarter. State Street Corp lifted its position in Hope Bancorp by 0.9% in the 2nd quarter. State Street Corp now owns 4,811,337 shares of the financial services provider’s stock valued at $89,732,000 after purchasing an additional 43,135 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Hope Bancorp by 14.8% in the 3rd quarter. Principal Financial Group Inc. now owns 4,457,274 shares of the financial services provider’s stock valued at $78,939,000 after purchasing an additional 576,268 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Hope Bancorp, Inc. (HOPE) traded down $0.12 during mid-day trading on Monday, hitting $17.03. 686,700 shares of the company’s stock were exchanged, compared to its average volume of 540,668. Hope Bancorp, Inc. has a one year low of $15.10 and a one year high of $22.99. The company has a market cap of $2,307.54, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.40. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Hope Bancorp had a net margin of 26.16% and a return on equity of 8.74%. The company had revenue of $139.51 million for the quarter, compared to the consensus estimate of $137.93 million. During the same period in the previous year, the firm earned $0.22 EPS. sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Tuesday, October 31st will be given a dividend of $0.13 per share. The ex-dividend date is Monday, October 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.05%. Hope Bancorp’s dividend payout ratio (DPR) is 43.33%.

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In other news, EVP Jason K. Kim sold 6,000 shares of Hope Bancorp stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $18.97, for a total value of $113,820.00. Following the transaction, the executive vice president now owns 70,729 shares of the company’s stock, valued at approximately $1,341,729.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jason K. Kim sold 5,739 shares of Hope Bancorp stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $18.17, for a total transaction of $104,277.63. Following the completion of the transaction, the executive vice president now directly owns 52,709 shares in the company, valued at approximately $957,722.53. The disclosure for this sale can be found here. Insiders have sold a total of 162,174 shares of company stock worth $2,808,891 over the last 90 days. 5.20% of the stock is owned by insiders.

Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. FIG Partners downgraded shares of Hope Bancorp from an “outperform” rating to a “market-perform” rating in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $19.00 price objective on shares of Hope Bancorp in a research report on Thursday, September 7th. ValuEngine downgraded shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Hope Bancorp in a research report on Thursday, November 2nd. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.58.

Hope Bancorp Company Profile

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.

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

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