Quantinno Capital Management LP Grows Stock Position in Hope Bancorp, Inc. $HOPE

Quantinno Capital Management LP increased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 53.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 158,456 shares of the financial services provider’s stock after acquiring an additional 55,401 shares during the period. Quantinno Capital Management LP owned approximately 0.12% of Hope Bancorp worth $1,770,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HOPE. PNC Financial Services Group Inc. raised its position in Hope Bancorp by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 960 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Hope Bancorp by 6.2% during the 4th quarter. Hantz Financial Services Inc. now owns 18,064 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 1,051 shares during the period. Corient Private Wealth LLC increased its position in shares of Hope Bancorp by 5.1% during the fourth quarter. Corient Private Wealth LLC now owns 22,218 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 1,074 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Hope Bancorp by 0.4% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 269,046 shares of the financial services provider’s stock valued at $2,950,000 after purchasing an additional 1,152 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Hope Bancorp by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 60,053 shares of the financial services provider’s stock valued at $644,000 after buying an additional 1,659 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Price Performance

Shares of NASDAQ HOPE opened at $14.24 on Wednesday. The stock’s 50-day simple moving average is $13.46 and its 200-day simple moving average is $12.46. The firm has a market capitalization of $1.82 billion, a PE ratio of 14.24 and a beta of 0.83. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98.

Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The firm had revenue of $147.82 million during the quarter, compared to the consensus estimate of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same period in the prior year, the company posted ($0.22) earnings per share. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be issued a $0.14 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.56 annualized dividend and a dividend yield of 3.9%. Hope Bancorp’s dividend payout ratio is presently 56.00%.

Insider Activity

In related news, Director Daisy Y. Ha sold 26,995 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total value of $384,408.80. Following the transaction, the director directly owned 346,120 shares of the company’s stock, valued at $4,928,748.80. This trade represents a 7.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.27% of the company’s stock.

Analyst Ratings Changes

HOPE has been the topic of several recent research reports. Weiss Ratings raised shares of Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their target price on Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, DA Davidson upped their price target on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.50.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.