Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Hope Bancorp, Inc. (NASDAQ:HOPE)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 74,080 shares of the financial services provider’s stock, valued at approximately $910,000.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC lifted its position in Hope Bancorp by 66.8% during the third quarter. Jane Street Group LLC now owns 170,936 shares of the financial services provider’s stock worth $2,147,000 after acquiring an additional 68,460 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Hope Bancorp by 12.0% during the third quarter. JPMorgan Chase & Co. now owns 893,172 shares of the financial services provider’s stock worth $11,218,000 after acquiring an additional 95,570 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Hope Bancorp by 47.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,055,151 shares of the financial services provider’s stock worth $12,968,000 after acquiring an additional 337,599 shares during the last quarter. Barclays PLC lifted its position in Hope Bancorp by 109.9% during the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider’s stock worth $3,183,000 after acquiring an additional 132,677 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Hope Bancorp by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,842,056 shares of the financial services provider’s stock valued at $35,703,000 after buying an additional 48,237 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler dropped their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Finally, DA Davidson dropped their price target on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.88.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total transaction of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares of the company’s stock, valued at approximately $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.29% of the stock is currently owned by insiders.

Hope Bancorp Stock Performance

Shares of NASDAQ:HOPE opened at $10.43 on Friday. The company’s 50 day simple moving average is $11.26 and its 200 day simple moving average is $12.27. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.72 and a beta of 1.15. 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, Inc. has a 1 year low of $9.80 and a 1 year high of $14.54.

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

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 dividend on an annualized basis and a yield of 5.37%. Hope Bancorp’s dividend payout ratio (DPR) is 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.