Strs Ohio Sells 11,400 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Strs Ohio lessened its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 14.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,600 shares of the financial services provider’s stock after selling 11,400 shares during the period. Strs Ohio owned approximately 0.06% of Hope Bancorp worth $804,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new stake in Hope Bancorp in the 4th quarter worth approximately $726,000. Sequoia Financial Advisors LLC grew its position in Hope Bancorp by 88.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 32,072 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 15,094 shares during the period. Denali Advisors LLC grew its position in Hope Bancorp by 1.4% in the 4th quarter. Denali Advisors LLC now owns 283,500 shares of the financial services provider’s stock worth $3,425,000 after purchasing an additional 4,000 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Hope Bancorp by 28.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 773,619 shares of the financial services provider’s stock worth $9,345,000 after acquiring an additional 170,985 shares during the last quarter. Finally, Everhart Financial Group Inc. purchased a new position in shares of Hope Bancorp during the 4th quarter worth $197,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Trading Up 0.6 %

Shares of Hope Bancorp stock opened at $11.07 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.05 and a quick ratio of 1.05. Hope Bancorp, Inc. has a 1-year low of $7.42 and a 1-year high of $12.51. The company’s fifty day simple moving average is $10.97 and its 200-day simple moving average is $10.70. The stock has a market capitalization of $1.34 billion, a PE ratio of 9.88 and a beta of 1.13.

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

Hope Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Thursday, February 8th. Hope Bancorp’s dividend payout ratio (DPR) is 50.00%.

Analyst Upgrades and Downgrades

HOPE has been the topic of several analyst reports. Wedbush dropped their price target on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.33.

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.