Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 431,536 shares of the financial services provider’s stock after purchasing an additional 21,082 shares during the period. Empowered Funds LLC owned approximately 0.36% of Hope Bancorp worth $5,304,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of HOPE. MassMutual Private Wealth & Trust FSB increased its holdings in Hope Bancorp by 31.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after buying an additional 848 shares during the period. nVerses Capital LLC purchased a new stake in shares of Hope Bancorp in the 3rd quarter valued at $48,000. Quantbot Technologies LP acquired a new stake in shares of Hope Bancorp in the third quarter worth $58,000. KBC Group NV raised its holdings 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 during the last quarter. Finally, CWM LLC lifted its position in Hope Bancorp by 15.7% during the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 1,238 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp Price Performance

NASDAQ:HOPE opened at $11.74 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.53. The stock’s 50-day moving average price is $12.26 and its 200-day moving average price is $12.57. The stock has a market capitalization of $1.42 billion, a PE ratio of 14.32 and a beta of 1.15.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 EPS for the quarter, beating 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%. As a group, equities analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Thursday, February 6th. Hope Bancorp’s payout ratio is presently 68.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HOPE shares. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. DA Davidson reduced their price target on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Piper Sandler lowered 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.88.

Insiders Place Their Bets

In related news, EVP Angelee Harris sold 3,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $14.16, for a total transaction of $42,480.00. Following the completion of the transaction, the executive vice president now owns 19,795 shares in the company, valued at $280,297.20. This represents a 13.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas Stenger sold 4,185 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value 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. This trade represents a 17.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,055 shares of company stock worth $1,396,908. Company insiders own 5.29% of the company’s stock.

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.