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.
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