Teza Capital Management LLC bought a new position in Hope Bancorp Inc (NASDAQ:HOPE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,855 shares of the financial services provider’s stock, valued at approximately $229,000.
Several other institutional investors and hedge funds have also recently modified their holdings of HOPE. Fuller & Thaler Asset Management Inc. raised its position in shares of Hope Bancorp by 12.4% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,990,899 shares of the financial services provider’s stock worth $65,685,000 after buying an additional 884,003 shares during the period. APG Asset Management N.V. purchased a new position in shares of Hope Bancorp in the 1st quarter worth $3,778,000. State Street Corp raised its position in Hope Bancorp by 5.3% in the first quarter. State Street Corp now owns 5,069,602 shares of the financial services provider’s stock valued at $41,672,000 after purchasing an additional 256,038 shares during the period. Denali Advisors LLC raised its position in Hope Bancorp by 639.3% in the second quarter. Denali Advisors LLC now owns 207,000 shares of the financial services provider’s stock valued at $1,909,000 after purchasing an additional 179,000 shares during the period. Finally, Martingale Asset Management L P purchased a new position in Hope Bancorp in the first quarter valued at about $1,405,000. 84.55% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on HOPE. Zacks Investment Research lowered Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. ValuEngine lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, June 23rd.
Shares of Hope Bancorp stock opened at $8.64 on Wednesday. The business has a 50-day moving average of $8.60 and a 200-day moving average of $9.54. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $1.07 billion, a PE ratio of 7.79 and a beta of 1.63. Hope Bancorp Inc has a 1-year low of $7.06 and a 1-year high of $15.51.
Hope Bancorp (NASDAQ:HOPE) last announced its earnings results on Thursday, July 30th. The financial services provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The company had revenue of $121.05 million during the quarter, compared to the consensus estimate of $128.10 million. Hope Bancorp had a return on equity of 6.82% and a net margin of 19.74%. On average, equities analysts expect that Hope Bancorp Inc will post 0.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.56 annualized dividend and a dividend yield of 6.48%. Hope Bancorp’s dividend payout ratio is presently 41.48%.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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