First Mercantile Trust Co. cut its holdings in Hope Bancorp Inc (NASDAQ:HOPE) by 25.6% during the first quarter, HoldingsChannel.com reports. The firm owned 2,180 shares of the financial services provider’s stock after selling 750 shares during the period. First Mercantile Trust Co.’s holdings in Hope Bancorp were worth $29,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of HOPE. Norges Bank acquired a new position in Hope Bancorp in the fourth quarter valued at $22,668,000. BlackRock Inc. increased its stake in Hope Bancorp by 3.1% in the fourth quarter. BlackRock Inc. now owns 18,737,782 shares of the financial services provider’s stock valued at $222,230,000 after purchasing an additional 558,951 shares during the period. Oregon Public Employees Retirement Fund acquired a new position in Hope Bancorp in the fourth quarter valued at $47,000. FMR LLC increased its stake in shares of Hope Bancorp by 22.5% during the fourth quarter. FMR LLC now owns 1,982,881 shares of the financial services provider’s stock worth $23,517,000 after acquiring an additional 363,722 shares during the period. Finally, Morgan Stanley increased its stake in shares of Hope Bancorp by 106.9% during the third quarter. Morgan Stanley now owns 657,217 shares of the financial services provider’s stock worth $10,627,000 after acquiring an additional 339,621 shares during the period. Institutional investors own 86.47% of the company’s stock.
In other news, EVP Jason K. Kim sold 4,750 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $14.71, for a total transaction of $69,872.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.06% of the company’s stock.
Shares of Hope Bancorp stock opened at $13.57 on Friday. Hope Bancorp Inc has a 52-week low of $11.37 and a 52-week high of $18.88. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.67 billion, a PE ratio of 9.42, a PEG ratio of 1.25 and a beta of 1.52.
Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Hope Bancorp had a net margin of 24.99% and a return on equity of 9.48%. The business had revenue of $131.03 million for the quarter, compared to analyst estimates of $132.40 million. During the same period in the previous year, the business posted $0.38 earnings per share. Equities analysts anticipate that Hope Bancorp Inc will post 1.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Friday, April 26th were paid a dividend of $0.14 per share. The ex-dividend date was Thursday, April 25th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.13%. Hope Bancorp’s dividend payout ratio (DPR) is 38.89%.
HOPE has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 26th. ValuEngine lowered shares of Hope Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Hope Bancorp presently has a consensus rating of “Hold” and a consensus target price of $16.50.
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About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
Further Reading: Market Capitalization and Individual Investors
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