Bridge City Capital LLC Trims Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

Bridge City Capital LLC lessened its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,789 shares of the financial services provider’s stock after selling 2,067 shares during the period. Bridge City Capital LLC’s holdings in Hope Bancorp were worth $2,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of Hope Bancorp by 11.1% in the 4th quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 2,443 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Hope Bancorp in the fourth quarter valued at $332,000. Sei Investments Co. raised its position in shares of Hope Bancorp by 6.2% in the fourth quarter. Sei Investments Co. now owns 249,235 shares of the financial services provider’s stock worth $3,063,000 after acquiring an additional 14,509 shares during the period. American Century Companies Inc. boosted its stake in shares of Hope Bancorp by 12.5% during the 4th quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider’s stock worth $31,375,000 after acquiring an additional 283,514 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Hope Bancorp by 547.5% during the 4th quarter. Quantbot Technologies LP now owns 30,143 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 25,488 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $10.45 on Friday. The stock’s 50-day moving average price is $11.24 and its 200 day moving average price is $12.25. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.26 billion, a PE ratio of 12.74 and a beta of 1.15. Hope Bancorp, Inc. has a 52-week low of $9.80 and a 52-week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) 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%. As a group, equities research analysts forecast that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.36%. Hope Bancorp’s payout ratio is 68.29%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Hope Bancorp

In related news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.29% of the company’s stock.

Hope Bancorp Profile

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.