559,852 Shares in Hope Bancorp, Inc. (HOPE) Obtained by Granite Investment Partners LLC

559,852 Shares in Hope Bancorp, Inc. (HOPE) Obtained by Granite Investment Partners LLC

Granite Investment Partners LLC purchased a new stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) during the third quarter, Holdings Channel reports. The firm purchased 559,852 shares of the financial services provider’s stock, valued at approximately $9,724,000. Granite Investment Partners LLC owned about 0.41% of Hope Bancorp as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. 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. Teacher Retirement System of Texas acquired a new position in Hope Bancorp during the third quarter valued at $237,000. Finally, Amalgamated Bank acquired a new position in Hope Bancorp during the second quarter valued at $220,000. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Hope Bancorp, Inc. (NASDAQ:HOPE) opened at 20.91 on Wednesday. The firm has a market capitalization of $2.83 billion, a price-to-earnings ratio of 19.01 and a beta of 1.29. Hope Bancorp, Inc. has a 12 month low of $13.59 and a 12 month high of $22.99. The firm has a 50-day moving average price of $21.81 and a 200 day moving average price of $18.31.

Hope Bancorp (NASDAQ:HOPE) last posted its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Hope Bancorp had a return on equity of 9.10% and a net margin of 24.01%. On average, equities analysts forecast that Hope Bancorp, Inc. will post $1.37 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 17th. Stockholders of record on Friday, February 3rd will be given a $0.12 dividend. The ex-dividend date is Wednesday, February 1st. This represents a $0.48 annualized dividend and a dividend yield of 2.30%. Hope Bancorp’s dividend payout ratio is currently 43.24%.

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods lowered Hope Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 26th. Zacks Investment Research lowered Hope Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 21st.

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).

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