Martingale Asset Management L P cut its stake in Hope Bancorp Inc (NASDAQ:HOPE) by 32.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,556 shares of the financial services provider’s stock after selling 21,500 shares during the period. Martingale Asset Management L P’s holdings in Hope Bancorp were worth $529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its holdings in shares of Hope Bancorp by 29.4% during the third quarter. First Trust Advisors LP now owns 321,966 shares of the financial services provider’s stock worth $5,206,000 after buying an additional 73,096 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Hope Bancorp by 47.7% during the third quarter. Victory Capital Management Inc. now owns 74,998 shares of the financial services provider’s stock worth $1,213,000 after buying an additional 24,236 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Hope Bancorp during the third quarter worth about $700,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Hope Bancorp during the third quarter worth about $438,000. Finally, LSV Asset Management grew its holdings in shares of Hope Bancorp by 0.5% during the third quarter. LSV Asset Management now owns 4,090,626 shares of the financial services provider’s stock worth $66,145,000 after buying an additional 19,600 shares in the last quarter. 86.70% of the stock is currently owned by institutional investors and hedge funds.

HOPE opened at $13.96 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.03. Hope Bancorp Inc has a 1 year low of $11.37 and a 1 year high of $19.36. The company has a market capitalization of $1.75 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.16 and a beta of 1.52.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, January 22nd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Hope Bancorp had a net margin of 26.69% and a return on equity of 9.92%. The business had revenue of $133.51 million for the quarter, compared to analysts’ expectations of $136.14 million. During the same period last year, the company earned $0.32 earnings per share. As a group, equities research analysts anticipate that Hope Bancorp Inc will post 1.49 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, February 1st were given a $0.14 dividend. The ex-dividend date was Thursday, January 31st. This represents a $0.56 annualized dividend and a dividend yield of 4.01%. Hope Bancorp’s dividend payout ratio is presently 38.89%.

In related news, EVP Jason K. Kim sold 4,750 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $14.71, for a total value of $69,872.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Peter Koh sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $14.92, for a total transaction of $89,520.00. Following the completion of the sale, the executive vice president now directly owns 54,687 shares in the company, valued at $815,930.04. The disclosure for this sale can be found here. 5.06% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research upgraded shares of Hope Bancorp from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.50.

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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.

Further Reading: Cost of equity and a company’s balance sheet

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Institutional Ownership by Quarter for Hope Bancorp (NASDAQ:HOPE)

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