Empowered Funds LLC Increases Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Empowered Funds LLC raised its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 431,536 shares of the financial services provider’s stock after acquiring an additional 21,082 shares during the period. Empowered Funds LLC’s holdings in Hope Bancorp were worth $5,304,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Hope Bancorp by 2.7% in the second quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 1,597 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Hope Bancorp in the 3rd quarter valued at $508,000. CWM LLC increased its stake in shares of Hope Bancorp by 15.7% in the 3rd quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,238 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Hope Bancorp during the 3rd quarter worth $48,000. Finally, QRG Capital Management Inc. boosted its position in shares of Hope Bancorp by 13.6% during the 3rd quarter. QRG Capital Management Inc. now owns 21,148 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 2,534 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Hope Bancorp Trading Up 2.2 %

Shares of HOPE stock opened at $11.74 on Wednesday. Hope Bancorp, Inc. has a 1-year low of $9.80 and a 1-year high of $14.53. The firm has a market cap of $1.42 billion, a PE ratio of 14.32 and a beta of 1.15. The company has a 50-day moving average of $12.26 and a two-hundred day moving average of $12.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.97 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. On average, analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.77%. Hope Bancorp’s payout ratio is presently 68.29%.

Insider Activity at Hope Bancorp

In related news, Director Steven Koh sold 96,620 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $13.33, for a total transaction of $1,287,944.60. Following the sale, the director now directly owns 3,167,023 shares of the company’s stock, valued at $42,216,416.59. This represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Angelee Harris sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now directly owns 19,795 shares of the company’s stock, valued at $280,297.20. This represents a 13.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,055 shares of company stock worth $1,396,908. 5.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HOPE has been the subject of several recent analyst reports. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. DA Davidson cut their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Piper Sandler decreased their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.88.

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.