Arrowstreet Capital Limited Partnership Has $9.42 Million Stock Position in Hope Bancorp, Inc. $HOPE

Arrowstreet Capital Limited Partnership raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 54.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 877,835 shares of the financial services provider’s stock after buying an additional 308,646 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Hope Bancorp were worth $9,419,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Hope Bancorp by 43.4% in the first quarter. Wellington Management Group LLP now owns 6,201,937 shares of the financial services provider’s stock valued at $64,934,000 after acquiring an additional 1,877,820 shares during the last quarter. American Century Companies Inc. raised its position in Hope Bancorp by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 3,006,877 shares of the financial services provider’s stock valued at $32,264,000 after purchasing an additional 257,791 shares during the last quarter. Geode Capital Management LLC raised its position in Hope Bancorp by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,986,576 shares of the financial services provider’s stock valued at $32,050,000 after purchasing an additional 68,620 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Hope Bancorp by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 1,739,463 shares of the financial services provider’s stock worth $18,664,000 after purchasing an additional 48,394 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Hope Bancorp by 3.9% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,144,748 shares of the financial services provider’s stock worth $11,986,000 after purchasing an additional 43,280 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Hope Bancorp Trading Down 0.9%

Shares of NASDAQ HOPE opened at $10.94 on Wednesday. Hope Bancorp, Inc. has a twelve month low of $8.82 and a twelve month high of $13.67. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 28.05 and a beta of 0.89. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $10.59 and its 200-day moving average is $10.65.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Tuesday, October 28th. The financial services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $142.03 million for the quarter, compared to analyst estimates of $138.87 million. Hope Bancorp had a return on equity of 4.70% and a net margin of 4.89%.During the same period in the previous year, the business posted $0.21 EPS. Equities research analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Friday, November 7th. Hope Bancorp’s payout ratio is 143.59%.

Wall Street Analysts Forecast Growth

HOPE has been the subject of a number of research analyst reports. Zacks Research raised Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Hope Bancorp in a research note on Monday. Finally, DA Davidson set a $14.50 price objective on Hope Bancorp in a report on Wednesday, October 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.25.

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.