Canada Pension Plan Investment Board Invests $923,000 in Hope Bancorp, Inc. (NASDAQ:HOPE)

Canada Pension Plan Investment Board bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,100 shares of the financial services provider’s stock, valued at approximately $923,000. Canada Pension Plan Investment Board owned about 0.06% of Hope Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HOPE. Jump Financial LLC bought a new stake in shares of Hope Bancorp in the 4th quarter valued at $470,000. Walleye Capital LLC boosted its position in Hope Bancorp by 62.2% during the fourth quarter. Walleye Capital LLC now owns 90,000 shares of the financial services provider’s stock valued at $1,106,000 after acquiring an additional 34,500 shares during the last quarter. Barclays PLC grew its holdings in Hope Bancorp by 1.1% during the 4th quarter. Barclays PLC now owns 256,264 shares of the financial services provider’s stock worth $3,149,000 after acquiring an additional 2,827 shares during the period. Sterling Capital Management LLC raised its position in shares of Hope Bancorp by 819.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 3,309 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Hope Bancorp in the 4th quarter valued at about $912,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity at Hope Bancorp

In other news, EVP Thomas Stenger sold 4,185 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the sale, the executive vice president now directly owns 19,267 shares of the company’s stock, valued at $227,928.61. This represents a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.29% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com cut Hope Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Sandler reduced their price objective on shares of Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Finally, DA Davidson dropped their target price on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.88.

Hope Bancorp Trading Up 2.7 %

Shares of Hope Bancorp stock opened at $10.24 on Friday. The stock has a market capitalization of $1.24 billion, a PE ratio of 12.49 and a beta of 0.96. Hope Bancorp, Inc. has a 52 week low of $8.83 and a 52 week high of $14.54. The stock has a 50 day moving average price of $10.22 and a two-hundred day moving average price of $11.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Hope Bancorp had a net margin of 9.95% and a return on equity of 4.84%. The business had revenue of $217.17 million during the quarter, compared to the consensus estimate of $114.97 million. During the same quarter last year, the firm posted $0.23 EPS. As a group, equities analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 2nd will be issued a $0.14 dividend. The ex-dividend date is Friday, May 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.47%. Hope Bancorp’s dividend payout ratio is presently 68.29%.

Hope Bancorp Company Profile

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.