Man Group plc Purchases New Shares in Hope Bancorp, Inc. $HOPE

Man Group plc acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 39,854 shares of the financial services provider’s stock, valued at approximately $545,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Hope Bancorp by 4.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,367,855 shares of the financial services provider’s stock worth $82,298,000 after purchasing an additional 315,028 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Hope Bancorp by 159.4% during the 4th quarter. AlphaQuest LLC now owns 189,175 shares of the financial services provider’s stock worth $2,073,000 after buying an additional 116,252 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Hope Bancorp by 16.9% in the 1st quarter. Bank of America Corp DE now owns 989,030 shares of the financial services provider’s stock worth $11,047,000 after buying an additional 142,807 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Hope Bancorp in the 2nd quarter worth approximately $252,703,000. Finally, First Trust Advisors LP grew its holdings in shares of Hope Bancorp by 90.1% in the first quarter. First Trust Advisors LP now owns 346,196 shares of the financial services provider’s stock valued at $3,867,000 after acquiring an additional 164,099 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HOPE shares. Weiss Ratings upgraded Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Keefe, Bruyette & Woods upped their price objective on Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, DA Davidson raised their target price on Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $15.50.

Hope Bancorp Stock Up 0.3%

Hope Bancorp stock opened at $14.00 on Friday. The firm has a 50 day moving average price of $13.85 and a 200-day moving average price of $12.69. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.25. Hope Bancorp, Inc. has a twelve month low of $9.80 and a twelve month high of $14.59. The company has a market capitalization of $1.79 billion, a P/E ratio of 14.00 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Monday, July 27th. The financial services provider reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a net margin of 12.53% and a return on equity of 5.71%. The company had revenue of $147.82 million for the quarter, compared to analysts’ expectations of $146.50 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. As a group, equities analysts predict that Hope Bancorp, Inc. will post 1.13 EPS for the current year.

Hope Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Thursday, August 6th. Hope Bancorp’s dividend payout ratio is currently 56.00%.

Insider Buying and Selling at Hope Bancorp

In other news, Director Daisy Ha sold 26,995 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $14.24, for a total transaction of $384,408.80. Following the completion of the transaction, the director owned 346,120 shares in the company, valued at approximately $4,928,748.80. This represents a 7.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.27% of the company’s stock.

Hope Bancorp Company 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.