Hope Bancorp, Inc. $HOPE Position Boosted by Inspire Investing LLC

by · The Markets Daily

Inspire Investing LLC grew its holdings in shares of Hope Bancorp, Inc. (NASDAQ:HOPE – Free Report) by 9.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 36,027 shares of the financial services provider’s stock after purchasing an additional 3,209 shares during the period. Inspire Investing LLC’s holdings in Hope Bancorp were worth $387,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HOPE. Geneos Wealth Management Inc. boosted its position in shares of 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 purchasing an additional 2,558 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Hope Bancorp by 29.3% in the second quarter. GAMMA Investing LLC now owns 5,345 shares of the financial services provider’s stock worth $57,000 after buying an additional 1,211 shares during the period. KBC Group NV boosted its holdings in shares of Hope Bancorp by 16.6% in the first quarter. KBC Group NV now owns 8,269 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,176 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Hope Bancorp in the first quarter worth about $105,000. Finally, Entropy Technologies LP acquired a new position in shares of Hope Bancorp in the first quarter worth about $110,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on HOPE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hope Bancorp in a report on Wednesday, October 8th. Zacks Research upgraded shares of Hope Bancorp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hope Bancorp presently has a consensus rating of “Hold” and a consensus target price of $13.25.

Read Our Latest Stock Report on HOPE

Hope Bancorp Stock Performance

HOPE stock opened at $10.07 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $1.29 billion, a P/E ratio of 28.77 and a beta of 0.92. The firm has a 50 day simple moving average of $10.81 and a 200 day simple moving average of $10.47. Hope Bancorp, Inc. has a 52 week low of $8.82 and a 52 week high of $14.53.

Hope Bancorp (NASDAQ:HOPE – Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported ($0.22) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.43). The company had revenue of $94.58 million for the quarter, compared to analyst estimates of $133.90 million. Hope Bancorp had a return on equity of 4.45% and a net margin of 4.27%.During the same quarter in the prior year, the business posted $0.22 earnings per share. Research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. Hope Bancorp’s dividend payout ratio (DPR) is currently 160.00%.

Insider Activity at Hope Bancorp

In related news, EVP Angelee Harris sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $11.02, for a total transaction of $38,570.00. Following the completion of the sale, the executive vice president directly owned 24,241 shares in the company, valued at approximately $267,135.82. This trade represents a 12.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 7,102 shares of company stock worth $76,068 in the last ninety days. Company insiders own 5.16% of the company’s stock.

Hope Bancorp Company Profile

(Free Report)

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.

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