Pinebridge Investments L.P. Has $1.47 Million Position in Hope Bancorp Inc (HOPE)
Pinebridge Investments L.P. reduced its position in Hope Bancorp Inc (NASDAQ:HOPE) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,784 shares of the financial services provider’s stock after selling 3,529 shares during the period. Pinebridge Investments L.P.’s holdings in Hope Bancorp were worth $1,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Hope Bancorp by 12.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 8,578,817 shares of the financial services provider’s stock valued at $151,931,000 after purchasing an additional 960,796 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Hope Bancorp by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,801,510 shares of the financial services provider’s stock valued at $138,164,000 after purchasing an additional 303,779 shares during the period. State Street Corp lifted its stake in shares of Hope Bancorp by 0.9% in the 2nd quarter. State Street Corp now owns 4,811,337 shares of the financial services provider’s stock valued at $89,732,000 after purchasing an additional 43,135 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Hope Bancorp by 14.8% in the 3rd quarter. Principal Financial Group Inc. now owns 4,457,274 shares of the financial services provider’s stock valued at $78,939,000 after purchasing an additional 576,268 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in shares of Hope Bancorp by 6.3% in the 3rd quarter. Pzena Investment Management LLC now owns 2,429,412 shares of the financial services provider’s stock valued at $43,025,000 after purchasing an additional 143,907 shares during the period. Hedge funds and other institutional investors own 82.11% of the company’s stock.
Several equities analysts recently issued reports on HOPE shares. ValuEngine upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Piper Jaffray Companies reiterated a “hold” rating and issued a $22.00 target price on shares of Hope Bancorp in a research note on Tuesday, January 9th. Zacks Investment Research upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Hope Bancorp in a research note on Thursday, November 2nd. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.92.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $142.84 million during the quarter, compared to analyst estimates of $139.26 million. Hope Bancorp had a net margin of 21.96% and a return on equity of 8.71%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. analysts expect that Hope Bancorp Inc will post 1.57 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Monday, February 5th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Friday, February 2nd. Hope Bancorp’s payout ratio is presently 50.49%.
In related news, Director Steven Koh sold 10,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $17.95, for a total value of $179,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Lee Song sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $19.25, for a total transaction of $57,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 81,757 shares of company stock valued at $1,544,980. 5.20% of the stock is owned by insiders.
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Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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