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

AlphaQuest LLC grew its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2,857,750.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 57,157 shares of the financial services provider’s stock after buying an additional 57,155 shares during the period. AlphaQuest LLC’s holdings in Hope Bancorp were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in Hope Bancorp by 181.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,553 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 848 shares in the last quarter. Quantbot Technologies LP purchased a new position in Hope Bancorp during the third quarter worth about $58,000. KBC Group NV raised its holdings in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,901 shares in the last quarter. Finally, Quantinno Capital Management LP raised its holdings in Hope Bancorp by 8.5% during the third quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 919 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOPE has been the subject of several analyst reports. 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. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Finally, Piper Sandler dropped their target price on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Hope Bancorp has a consensus rating of “Hold” and an average target price of $12.88.

Insider Activity

In other news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.29% of the company’s stock.

Hope Bancorp Trading Up 0.2 %

Shares of Hope Bancorp stock opened at $10.28 on Wednesday. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.24 billion, a PE ratio of 12.54 and a beta of 1.15. The company has a 50-day moving average of $11.48 and a two-hundred day moving average of $12.38.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a dividend yield of 5.45%. Hope Bancorp’s dividend payout ratio is presently 68.29%.

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.