Dimensional Fund Advisors LP Has $82.30 Million Stake in Hope Bancorp, Inc. $HOPE

Dimensional Fund Advisors LP boosted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 4.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,367,855 shares of the financial services provider’s stock after purchasing an additional 315,028 shares during the period. Dimensional Fund Advisors LP owned about 0.06% of Hope Bancorp worth $82,298,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of Hope Bancorp by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock worth $128,000 after buying an additional 960 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Hope Bancorp by 6.2% in the fourth quarter. Hantz Financial Services Inc. now owns 18,064 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 1,051 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Hope Bancorp by 5.1% in the fourth quarter. Corient Private Wealth LLC now owns 22,218 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 1,074 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Hope Bancorp by 0.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 269,046 shares of the financial services provider’s stock worth $2,950,000 after acquiring an additional 1,152 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Hope Bancorp by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 60,053 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 1,659 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Hope Bancorp Trading Down 0.7%

Shares of Hope Bancorp stock opened at $14.03 on Friday. The business has a fifty day simple moving average of $13.20 and a two-hundred day simple moving average of $12.32. Hope Bancorp, Inc. has a 1 year low of $9.44 and a 1 year high of $14.23. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 14.03 and a beta of 0.83. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.98 and a quick ratio of 0.96.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The firm had revenue of $147.82 million for the quarter, compared to the consensus estimate of $146.50 million. During the same period in the previous year, the company earned ($0.22) earnings per share. Research analysts forecast that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.56 annualized dividend and a dividend yield of 4.0%. Hope Bancorp’s payout ratio is presently 56.00%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HOPE. Weiss Ratings raised Hope Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their price target on Hope Bancorp from $13.00 to $14.00 and gave the stock a “market perform” rating in a research report on Monday, April 6th. Finally, DA Davidson upped their price objective on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.00.

Insider Activity at Hope Bancorp

In related news, Director Daisy Y. Ha sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $12.53, for a total value of $150,360.00. Following the transaction, the director owned 373,115 shares in the company, valued at approximately $4,675,130.95. This represents a 3.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.27% of the company’s stock.

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.