Bridgeway Capital Management LLC Has $8.73 Million Stock Holdings in Hope Bancorp, Inc. $HOPE

Bridgeway Capital Management LLC reduced its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 833,532 shares of the financial services provider’s stock after selling 102,504 shares during the period. Bridgeway Capital Management LLC’s holdings in Hope Bancorp were worth $8,727,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. KBC Group NV increased its position in Hope Bancorp by 16.6% during the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,176 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Hope Bancorp in the 1st quarter worth $105,000. Entropy Technologies LP bought a new position in shares of Hope Bancorp during the 1st quarter worth about $110,000. Algert Global LLC acquired a new position in shares of Hope Bancorp during the fourth quarter valued at about $135,000. Finally, Quantinno Capital Management LP lifted its stake in shares of Hope Bancorp by 15.2% in the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider’s stock valued at $166,000 after buying an additional 1,786 shares during the period. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Stock Performance

NASDAQ:HOPE opened at $11.10 on Thursday. The stock has a market capitalization of $1.42 billion, a P/E ratio of 31.71 and a beta of 0.97. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.06. Hope Bancorp, Inc. has a 1 year low of $8.82 and a 1 year high of $14.53. The firm has a 50 day moving average of $10.80 and a 200-day moving average of $10.43.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.43). Hope Bancorp had a net margin of 4.27% and a return on equity of 4.45%. The business had revenue of $94.58 million for the quarter, compared to analyst estimates of $133.90 million. During the same period in the prior year, the business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 1st. This represents a $0.56 annualized dividend and a yield of 5.0%. Hope Bancorp’s dividend payout ratio is 160.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HOPE. Zacks Research lowered Hope Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 26th. Wall Street Zen raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.25.

About Hope Bancorp

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.