1 week Ago By ABMN Staff
Norges Bank bought a new position in Hope Bancorp, Inc. ( NASDAQ:HOPE – Free Report ) during the 4th quarter, HoldingsChannel reports. The firm bought 325,520 shares of the financial services provider’s stock, valued at approximately $4,001,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in 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 worth $29,000 after buying an additional 1,553 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Hope Bancorp by 31.2% in the fourth quarter.
MassMutual Private Wealth & Trust FSB now owns 3,563 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 848 shares in the last quarter. KBC Group NV raised its position in shares of Hope Bancorp by 36.6% during the fourth quarter.
KBC Group NV now owns 7,093 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,901 shares during the period. Cibc World Markets Corp bought a new position in shares of Hope Bancorp during the 4th quarter valued at about $133,000. Finally, Quantinno Capital Management LP grew its position in shares of Hope Bancorp by 8.
5% in the 3rd quarter. Quantinno Capital Management LP now owns 11,729 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 919 shares during the period. 84.
00% of the stock is owned by institutional investors. Insiders Place Their Bets In other news, EVP Thomas Stenger sold 4,185 shares of Hope Bancorp stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.
83, for a total transaction of $49,508.55. Following the completion of the sale, the executive vice president now owns 19,267 shares of the company’s stock, valued at approximately $227,928.
61. This trade represents a 17.84 % decrease in their ownership of the stock.
The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Company insiders own 5.29% of the company’s stock.
Hope Bancorp Stock Down 5.8 % Hope Bancorp ( NASDAQ:HOPE – Get Free Report ) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.
20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03.
Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%.
Equities research analysts expect that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.
Hope Bancorp Announces Dividend The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.14 dividend.
The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.56 annualized dividend and a yield of 6.
11%. Hope Bancorp’s dividend payout ratio is currently 68.29%.
Analysts Set New Price Targets HOPE has been the topic of several research analyst reports. DA Davidson dropped their target price 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. Piper Sandler dropped their target price on Hope Bancorp from $13.00 to $12.
00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Hope Bancorp has an average rating of “Hold” and an average target price of $12.
88. Get Our Latest Stock Report on HOPE Hope Bancorp 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. Further Reading Want to see what other hedge funds are holding HOPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hope Bancorp, Inc.
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