Intech Investment Management LLC Sells 82,953 Shares of Hope Bancorp, Inc. $HOPE

Intech Investment Management LLC reduced its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 56.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,171 shares of the financial services provider’s stock after selling 82,953 shares during the period. Intech Investment Management LLC’s holdings in Hope Bancorp were worth $703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in shares of Hope Bancorp in the 4th quarter valued at $28,000. International Assets Investment Management LLC acquired a new position in shares of Hope Bancorp during the fourth quarter worth $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Hope Bancorp by 294.0% during the first quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after buying an additional 2,558 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Hope Bancorp by 157.1% during the second quarter. EverSource Wealth Advisors LLC now owns 5,026 shares of the financial services provider’s stock worth $54,000 after buying an additional 3,071 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hope Bancorp during the third quarter worth $97,000. Institutional investors own 84.00% of the company’s stock.

Hope Bancorp Stock Performance

Shares of HOPE opened at $12.67 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.62 billion, a P/E ratio of 24.37 and a beta of 0.84. The firm’s fifty day simple moving average is $12.23 and its two-hundred day simple moving average is $11.69. Hope Bancorp, Inc. has a 12 month low of $9.44 and a 12 month high of $13.02.

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

Hope Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given 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 4.4%. Hope Bancorp’s dividend payout ratio is 107.69%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Hope Bancorp news, Director Daisy Y. Ha sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total transaction of $150,360.00. Following the sale, the director owned 373,115 shares of the company’s stock, valued at approximately $4,675,130.95. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.27% of the company’s stock.

Hope Bancorp Profile

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.