Sanctuary Advisors LLC Buys New Holdings in Hope Bancorp, Inc. $HOPE

Sanctuary Advisors LLC purchased a new position in Hope Bancorp, Inc. (NASDAQ:HOPE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 54,013 shares of the financial services provider’s stock, valued at approximately $904,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in shares of Hope Bancorp in the 4th quarter valued at $28,000. International Assets Investment Management LLC acquired a new position in shares of Hope Bancorp during the fourth quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Hope Bancorp in the second quarter valued at $36,000. Geneos Wealth Management Inc. increased its holdings in Hope Bancorp by 294.0% in the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after buying an additional 2,558 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Hope Bancorp by 375.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after buying an additional 2,862 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daisy Y. Ha sold 26,995 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the completion of the sale, the director owned 346,120 shares in the company, valued at $4,928,748.80. This represents a 7.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.27% of the stock is currently owned by corporate insiders.

Hope Bancorp Trading Down 0.1%

HOPE opened at $13.92 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.59. The business’s 50 day moving average is $13.80 and its two-hundred day moving average is $12.64. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 13.92 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $147.82 million during the quarter, compared to the consensus estimate of $146.50 million. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.During the same period in the prior year, the company earned ($0.22) earnings per share. On average, research analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were given a $0.14 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.56 annualized dividend and a yield of 4.0%. Hope Bancorp’s dividend payout ratio is 56.00%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings raised Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. DA Davidson increased their price objective on Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Keefe, Bruyette & Woods raised their target price on Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.50.

About Hope Bancorp

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.