Hsbc Holdings PLC Invests $595,000 in Hope Bancorp, Inc. $HOPE

Hsbc Holdings PLC purchased a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 54,241 shares of the financial services provider’s stock, valued at approximately $595,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in Hope Bancorp during the fourth quarter worth about $28,000. International Assets Investment Management LLC acquired a new stake in shares of Hope Bancorp during the 4th quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Hope Bancorp by 375.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 2,862 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Hope Bancorp by 157.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 3,071 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Trading Up 1.6%

Hope Bancorp stock opened at $13.60 on Thursday. The stock has a market cap of $1.74 billion, a PE ratio of 26.15 and a beta of 0.83. The stock has a 50-day moving average price of $12.85 and a 200 day moving average price of $12.12. Hope Bancorp, Inc. has a 52 week low of $9.44 and a 52 week high of $14.05. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17.

Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.01. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The company had revenue of $133.82 million for the quarter, compared to analyst estimates of $145.30 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Equities research analysts predict that Hope Bancorp, Inc. will post 1.13 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, May 8th. Hope Bancorp’s payout ratio is currently 107.69%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HOPE shares. Keefe, Bruyette & Woods lifted their price objective on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a report on Monday, April 6th. Brean Capital raised Hope Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, April 1st. Weiss Ratings upgraded Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, DA Davidson boosted their price objective on shares of Hope Bancorp from $14.50 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.50.

Insider Activity

In related news, Director Daisy Y. Ha sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total transaction of $150,360.00. Following the transaction, the director owned 373,115 shares of the company’s stock, valued at approximately $4,675,130.95. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.27% of the company’s stock.

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.