Bridge City Capital LLC Increases Stock Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Bridge City Capital LLC raised its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 1.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 196,653 shares of the financial services provider’s stock after buying an additional 2,864 shares during the quarter. Bridge City Capital LLC’s holdings in Hope Bancorp were worth $2,059,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cresset Asset Management LLC lifted its position in Hope Bancorp by 0.8% during the 4th quarter. Cresset Asset Management LLC now owns 118,700 shares of the financial services provider’s stock valued at $1,459,000 after acquiring an additional 977 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Hope Bancorp by 181.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,553 shares during the period. Legal & General Group Plc increased its position in shares of Hope Bancorp by 0.5% during the 4th quarter. Legal & General Group Plc now owns 339,560 shares of the financial services provider’s stock valued at $4,173,000 after purchasing an additional 1,560 shares during the last quarter. Quantinno Capital Management LP raised its position in Hope Bancorp by 15.2% in the fourth quarter. Quantinno Capital Management LP now owns 13,515 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 1,786 shares during the period. Finally, KBC Group NV grew its holdings in Hope Bancorp by 36.6% during the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,901 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Monday, May 12th.

Hope Bancorp Stock Up 3.0%

Shares of NASDAQ:HOPE opened at $10.23 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $9.93 and its 200 day moving average is $11.15. The stock has a market cap of $1.31 billion, a P/E ratio of 12.48 and a beta of 0.89. Hope Bancorp, Inc. has a 52-week low of $8.83 and a 52-week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, April 22nd. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $217.17 million during the quarter, compared to analyst estimates of $114.97 million. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. During the same quarter in the previous year, the business posted $0.23 EPS. Sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend was Friday, May 2nd. Hope Bancorp’s dividend payout ratio (DPR) is presently 71.79%.

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.