Hope Bancorp, Inc. (NASDAQ:HOPE) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 6.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,625 shares of the financial services provider’s stock after selling 4,220 shares during the quarter. Illinois Municipal Retirement Fund owned about 0.06% of Hope Bancorp worth $805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. acquired a new position in shares of Hope Bancorp in the 3rd quarter valued at about $132,000. Everhart Financial Group Inc. acquired a new position in Hope Bancorp in the fourth quarter valued at approximately $197,000. EMC Capital Management grew its holdings in shares of Hope Bancorp by 57.9% during the third quarter. EMC Capital Management now owns 23,066 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 8,460 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hope Bancorp by 35.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,700 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 7,040 shares during the last quarter. Finally, WBI Investments Inc. raised its position in shares of Hope Bancorp by 10.4% during the 3rd quarter. WBI Investments Inc. now owns 37,843 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 3,566 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

HOPE has been the subject of a number of analyst reports. Wedbush reduced their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 6th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.33.

Hope Bancorp Stock Down 9.4 %

HOPE opened at $9.93 on Tuesday. The stock’s 50 day moving average price is $10.92 and its 200 day moving average price is $10.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $1.20 billion, a P/E ratio of 8.86 and a beta of 1.13. Hope Bancorp, Inc. has a 12 month low of $7.42 and a 12 month high of $12.51.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $135.20 million for the quarter, compared to analyst estimates of $138.47 million. Hope Bancorp had a net margin of 12.19% and a return on equity of 7.03%. During the same period last year, the business posted $0.43 earnings per share. As a group, research analysts predict that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

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.