Arrowstreet Capital Limited Partnership Trims Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Arrowstreet Capital Limited Partnership lessened its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 39.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 518,793 shares of the financial services provider’s stock after selling 344,713 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.43% of Hope Bancorp worth $6,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in shares of Hope Bancorp by 181.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake 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 during the period. KBC Group NV lifted its position in shares of 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. Cibc World Markets Corp purchased a new stake in Hope Bancorp during the 4th quarter worth approximately $133,000. Finally, Quantinno Capital Management LP lifted its holdings in Hope Bancorp by 8.5% during the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock worth $147,000 after buying an additional 919 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of HOPE stock opened at $9.31 on Tuesday. Hope Bancorp, Inc. has a 12 month low of $8.90 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 company has a market cap of $1.12 billion, a P/E ratio of 11.35 and a beta of 0.96. The firm has a fifty day moving average price of $10.84 and a 200 day moving average price of $12.08.

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

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 6.02%. Hope Bancorp’s dividend payout ratio is currently 68.29%.

Insiders Place Their Bets

In related news, EVP Thomas Stenger sold 4,185 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. This represents a 17.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HOPE. Piper Sandler cut their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. DA Davidson reduced their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.88.

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.