WINTON GROUP Ltd acquired a new position in Hope Bancorp Inc (NASDAQ:HOPE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 129,189 shares of the financial services provider’s stock, valued at approximately $2,089,000. WINTON GROUP Ltd owned approximately 0.10% of Hope Bancorp at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of HOPE. BlackRock Inc. increased its stake in Hope Bancorp by 9.0% in the 2nd quarter. BlackRock Inc. now owns 18,423,426 shares of the financial services provider’s stock worth $328,490,000 after buying an additional 1,527,125 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Hope Bancorp by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,213,335 shares of the financial services provider’s stock valued at $164,275,000 after purchasing an additional 593,266 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Hope Bancorp by 43.7% during the 2nd quarter. LSV Asset Management now owns 4,071,026 shares of the financial services provider’s stock valued at $72,586,000 after purchasing an additional 1,237,072 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Hope Bancorp by 0.8% during the 2nd quarter. Northern Trust Corp now owns 3,170,038 shares of the financial services provider’s stock valued at $56,523,000 after purchasing an additional 25,887 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its holdings in shares of Hope Bancorp by 4.5% during the 2nd quarter. Pzena Investment Management LLC now owns 3,018,616 shares of the financial services provider’s stock valued at $53,822,000 after purchasing an additional 131,235 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.
Shares of NASDAQ:HOPE traded down $1.03 during trading on Wednesday, reaching $14.07. The company’s stock had a trading volume of 1,058,191 shares, compared to its average volume of 715,108. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.59. Hope Bancorp Inc has a 12 month low of $13.45 and a 12 month high of $19.86. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.30 and a beta of 1.30.
Hope Bancorp (NASDAQ:HOPE) last announced its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. Hope Bancorp had a net margin of 23.43% and a return on equity of 9.81%. The firm had revenue of $136.60 million during the quarter, compared to the consensus estimate of $141.01 million. During the same quarter last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Hope Bancorp Inc will post 1.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, October 26th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Thursday, October 25th. Hope Bancorp’s payout ratio is 45.90%.
In other news, COO David P. Malone acquired 3,450 shares of Hope Bancorp stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average cost of $14.58 per share, with a total value of $50,301.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 5.06% of the stock is currently owned by company insiders.
HOPE has been the subject of several research reports. Zacks Investment Research raised shares of Hope Bancorp from a “sell” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, September 19th. TheStreet downgraded shares of Hope Bancorp from a “b-” rating to a “c+” rating in a report on Friday, October 26th. Sandler O’Neill set a $16.00 price objective on shares of Hope Bancorp and gave the company a “hold” rating in a report on Wednesday, October 17th. ValuEngine raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 18th. Finally, DA Davidson lowered their price target on shares of Hope Bancorp to $16.00 and set a “neutral” rating for the company in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.20.
Hope Bancorp Company Profile
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services primarily to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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