American International Group Inc. Takes Position in Hope Bancorp, Inc. (HOPE)

American International Group Inc. Takes Position in Hope Bancorp, Inc. (HOPE)

American International Group Inc. bought a new stake in Hope Bancorp, Inc. (NASDAQ:HOPE) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 95,214 shares of the financial services provider’s stock, valued at approximately $1,654,000. American International Group Inc. owned about 0.07% of Hope Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HOPE. First Mercantile Trust Co. acquired a new position in Hope Bancorp during the third quarter valued at $119,000. Strs Ohio acquired a new position in Hope Bancorp during the third quarter valued at $142,000. 1st Global Advisors Inc. acquired a new position in Hope Bancorp during the third quarter valued at $188,000. SG Americas Securities LLC acquired a new position in Hope Bancorp during the third quarter valued at $210,000. Finally, Amalgamated Bank acquired a new position in Hope Bancorp during the second quarter valued at $220,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.

Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) traded down 2.37% during mid-day trading on Friday, hitting $21.46. The stock had a trading volume of 636,949 shares. The company has a market cap of $2.90 billion, a P/E ratio of 19.51 and a beta of 1.29. Hope Bancorp, Inc. has a 1-year low of $13.59 and a 1-year high of $22.99. The firm’s 50 day moving average price is $21.85 and its 200 day moving average price is $18.20.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings data on Tuesday, January 24th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. Hope Bancorp had a net margin of 24.01% and a return on equity of 9.10%. Analysts predict that Hope Bancorp, Inc. will post $1.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, February 3rd will be issued a $0.12 dividend. The ex-dividend date is Wednesday, February 1st. This represents a $0.48 dividend on an annualized basis and a yield of 2.24%. Hope Bancorp’s payout ratio is 43.24%.

Several research firms have weighed in on HOPE. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, December 13th. Keefe, Bruyette & Woods lowered Hope Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday.

About Hope Bancorp

Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.

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. (NASDAQ:HOPE).

Related posts

Leave a Comment