Four Tree Island Advisory LLC Makes New Investment in Hope Bancorp, Inc. $HOPE

Four Tree Island Advisory LLC acquired a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the second quarter, HoldingsChannel reports. The firm acquired 59,190 shares of the financial services provider’s stock, valued at approximately $810,000. Hope Bancorp accounts for 0.3% of Four Tree Island Advisory LLC’s holdings, making the stock its 18th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in HOPE. Global Retirement Partners LLC acquired a new stake in shares of Hope Bancorp during the second quarter worth about $35,000. International Assets Investment Management LLC acquired a new position in Hope Bancorp in the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Hope Bancorp in the 2nd quarter valued at about $36,000. Geneos Wealth Management Inc. raised its stake in Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 2,558 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Hope Bancorp by 375.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 2,862 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HOPE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. DA Davidson upped their price target on Hope Bancorp from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, July 28th. Finally, Weiss Ratings upgraded Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.50.

Insider Buying and Selling

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

Hope Bancorp Stock Down 0.8%

HOPE opened at $14.24 on Wednesday. The business’s fifty day moving average is $13.65 and its two-hundred day moving average is $12.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 14.24 and a beta of 0.83. Hope Bancorp, Inc. has a one year low of $9.80 and a one year high of $14.59.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The company had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. Analysts anticipate that Hope Bancorp, Inc. will post 1.13 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, August 6th. Hope Bancorp’s dividend payout ratio is presently 56.00%.

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.