CKW Financial Group Buys Shares of 2,906 Hope Bancorp, Inc. $HOPE

CKW Financial Group bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,906 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV lifted its holdings in shares of Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,176 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Hope Bancorp by 29.3% in the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,211 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in shares of Hope Bancorp by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 74,284 shares of the financial services provider’s stock valued at $797,000 after purchasing an additional 1,448 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of Hope Bancorp by 4.8% in the second quarter. Maryland State Retirement & Pension System now owns 36,926 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Hope Bancorp by 14.7% in the first quarter. Cerity Partners LLC now owns 13,843 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,772 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.

Hope Bancorp Stock Performance

HOPE opened at $10.68 on Tuesday. Hope Bancorp, Inc. has a 52-week low of $8.82 and a 52-week high of $14.53. The firm has a market capitalization of $1.37 billion, a PE ratio of 30.51 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. The business’s 50-day simple moving average is $10.77 and its 200 day simple moving average is $10.47.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.43). Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.The company had revenue of $94.58 million for the quarter, compared to the consensus estimate of $133.90 million. During the same quarter in the previous year, the company posted $0.22 EPS. As a group, sell-side analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.2%. The ex-dividend date was Friday, August 1st. Hope Bancorp’s dividend payout ratio is presently 160.00%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HOPE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Hope Bancorp in a report on Wednesday, October 8th. Zacks Research upgraded Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.25.

Insider Transactions at Hope Bancorp

In related news, EVP Angelee Harris sold 3,500 shares of the company’s stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $11.02, for a total transaction of $38,570.00. Following the sale, the executive vice president owned 24,241 shares in the company, valued at approximately $267,135.82. This represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 7,102 shares of company stock worth $76,068 in the last 90 days. Corporate insiders own 5.16% of the company’s stock.

Hope Bancorp Company 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.