SG Americas Securities LLC Boosts Stock Position in Hope Bancorp, Inc. $HOPE

SG Americas Securities LLC increased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 83.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,360 shares of the financial services provider’s stock after purchasing an additional 42,456 shares during the quarter. SG Americas Securities LLC owned approximately 0.07% of Hope Bancorp worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of Hope Bancorp during the fourth quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new stake in Hope Bancorp in the fourth quarter worth $29,000. Geneos Wealth Management Inc. boosted 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 acquiring an additional 2,558 shares in the last quarter. Rockefeller Capital Management L.P. boosted 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 acquiring an additional 2,862 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Hope Bancorp by 157.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 3,071 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

HOPE stock opened at $13.58 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.96 and a quick ratio of 0.96. Hope Bancorp, Inc. has a 1 year low of $9.44 and a 1 year high of $14.05. The company has a market cap of $1.74 billion, a P/E ratio of 26.12 and a beta of 0.83. The stock’s fifty day moving average price is $12.71 and its 200-day moving average price is $12.01.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.01. Hope Bancorp had a net margin of 6.56% and a return on equity of 5.32%. The business had revenue of $133.82 million for the quarter, compared to analysts’ expectations of $145.30 million. During the same quarter last year, the company posted $0.17 EPS. The company’s revenue was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.56 dividend on an annualized basis and a yield of 4.1%. Hope Bancorp’s dividend payout ratio (DPR) is currently 107.69%.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Y. Ha sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $12.53, for a total value of $150,360.00. Following the completion of the transaction, the director owned 373,115 shares of the company’s stock, valued at $4,675,130.95. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.