Jump Financial LLC Purchases New Position in Hope Bancorp, Inc. (NASDAQ:HOPE)

Jump Financial LLC acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 38,220 shares of the financial services provider’s stock, valued at approximately $470,000.

Several other institutional investors and hedge funds also recently modified their holdings of HOPE. Smartleaf Asset Management LLC raised its holdings in shares of Hope Bancorp by 181.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,407 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Hope Bancorp by 31.2% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 848 shares during the period. Sterling Capital Management LLC lifted its position in shares of Hope Bancorp by 819.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,713 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. KBC Group NV boosted its stake in shares of Hope Bancorp by 36.6% in the fourth quarter. KBC Group NV now owns 7,093 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,901 shares during the period. Finally, Cibc World Markets Corp acquired a new stake in Hope Bancorp during the 4th quarter valued at $133,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity at Hope Bancorp

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $11.83, for a total value of $49,508.55. Following the completion of the transaction, the executive vice president now directly owns 19,267 shares in the company, valued at $227,928.61. The trade was a 17.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DA Davidson cut their price objective on shares of Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded Hope Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Piper Sandler dropped their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Hope Bancorp has an average rating of “Hold” and an average price target of $12.88.

Hope Bancorp Stock Up 2.7 %

NASDAQ:HOPE opened at $10.24 on Friday. The stock has a 50-day simple moving average of $10.22 and a 200 day simple moving average of $11.79. Hope Bancorp, Inc. has a one year low of $8.83 and a one year high of $14.54. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $217.17 million during the quarter, compared to the consensus estimate of $114.97 million. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. During the same period in the previous year, the business earned $0.23 EPS. Sell-side analysts predict that Hope Bancorp, Inc. will post 1.09 EPS for the current fiscal year.

Hope Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 2nd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Friday, May 2nd. Hope Bancorp’s dividend payout ratio (DPR) is presently 68.29%.

Hope Bancorp Profile

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.