Bridge City Capital LLC Has $2.38 Million Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Bridge City Capital LLC cut its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 193,789 shares of the financial services provider’s stock after selling 2,067 shares during the quarter. Bridge City Capital LLC owned about 0.16% of Hope Bancorp worth $2,382,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HOPE. LPL Financial LLC raised its position in shares of Hope Bancorp by 11.1% during the fourth quarter. LPL Financial LLC now owns 24,498 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 2,443 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Hope Bancorp in the 4th quarter valued at about $332,000. Sei Investments Co. raised its holdings in Hope Bancorp by 6.2% during the 4th quarter. Sei Investments Co. now owns 249,235 shares of the financial services provider’s stock valued at $3,063,000 after acquiring an additional 14,509 shares during the period. American Century Companies Inc. increased its position in shares of Hope Bancorp by 12.5% during the fourth quarter. American Century Companies Inc. now owns 2,552,914 shares of the financial services provider’s stock valued at $31,375,000 after buying an additional 283,514 shares during the period. Finally, Quantbot Technologies LP raised its position in shares of Hope Bancorp by 547.5% in the fourth quarter. Quantbot Technologies LP now owns 30,143 shares of the financial services provider’s stock worth $370,000 after buying an additional 25,488 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total transaction 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.29% of the company’s stock.

Hope Bancorp Trading Up 0.2 %

HOPE stock opened at $10.45 on Friday. The firm has a market cap of $1.26 billion, a PE ratio of 12.74 and a beta of 1.15. The firm has a fifty day moving average price of $11.24 and a 200 day moving average price of $12.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results 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 net margin of 9.95% and a return on equity of 4.84%. Sell-side analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 dividend yield of 5.36%. Hope Bancorp’s dividend payout ratio is currently 68.29%.

Analysts Set New Price Targets

Several analysts have issued reports on HOPE shares. StockNews.com raised Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Piper Sandler reduced their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Finally, DA Davidson dropped 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently 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.