American Century Companies Inc. Boosts Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)

American Century Companies Inc. increased its stake in Hope Bancorp, Inc. (NASDAQ:HOPE) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,552,914 shares of the financial services provider’s stock after acquiring an additional 283,514 shares during the period. American Century Companies Inc. owned about 2.11% of Hope Bancorp worth $31,375,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC boosted its holdings in shares of Hope Bancorp by 3.7% in the 3rd quarter. Intech Investment Management LLC now owns 48,464 shares of the financial services provider’s stock worth $609,000 after purchasing an additional 1,744 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hope Bancorp by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,346,215 shares of the financial services provider’s stock worth $29,468,000 after buying an additional 33,689 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Hope Bancorp in the third quarter worth approximately $58,000. Townsquare Capital LLC bought a new position in Hope Bancorp during the third quarter valued at approximately $174,000. Finally, Martingale Asset Management L P purchased a new position in shares of Hope Bancorp during the third quarter worth approximately $713,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HOPE shares. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. DA Davidson reduced their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler dropped their target price on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Hope Bancorp currently has a consensus rating of “Hold” and a consensus target price of $12.88.

Hope Bancorp Price Performance

Shares of Hope Bancorp stock opened at $10.42 on Friday. The company’s fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $12.19. Hope Bancorp, Inc. has a 12-month low of $9.80 and a 12-month high of $14.54. The firm has a market cap of $1.26 billion, a PE ratio of 12.71 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Hope Bancorp (NASDAQ:HOPE) last posted its earnings results on Monday, January 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.03. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. As a group, equities analysts expect that Hope Bancorp, Inc. will post 1.09 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, February 6th. Hope Bancorp’s dividend payout ratio (DPR) is currently 68.29%.

Insider Activity

In other news, EVP Thomas Stenger sold 4,185 shares of the firm’s 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 owns 19,267 shares in the company, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.29% of the company’s stock.

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.