Dimensional Fund Advisors LP reduced its stake in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,982,226 shares of the financial services provider’s stock after selling 435,561 shares during the period. Dimensional Fund Advisors LP owned approximately 5.16% of Hope Bancorp worth $152,842,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in HOPE. BlackRock Fund Advisors purchased a new position in Hope Bancorp during the third quarter valued at $151,695,000. Fuller & Thaler Asset Management Inc. purchased a new position in Hope Bancorp during the third quarter valued at $96,972,000. State Street Corp increased its position in Hope Bancorp by 13.5% in the fourth quarter. State Street Corp now owns 4,356,876 shares of the financial services provider’s stock valued at $95,369,000 after buying an additional 519,403 shares in the last quarter. BlackRock Institutional Trust Company N.A. purchased a new position in Hope Bancorp during the third quarter valued at $58,745,000. Finally, Northern Trust Corp purchased a new position in Hope Bancorp during the third quarter valued at $57,857,000. 78.57% of the stock is owned by institutional investors.
Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) traded down 0.5095% during trading on Friday, hitting $21.4601. The stock had a trading volume of 58,313 shares. The stock’s 50-day moving average price is $21.46 and its 200-day moving average price is $18.73. The company has a market cap of $2.90 billion, a P/E ratio of 19.5092 and a beta of 1.28. Hope Bancorp, Inc. has a one year low of $13.59 and a one year high of $22.99.
Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Tuesday, January 24th. The financial services provider reported $0.31 earnings per share 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 research analysts forecast that Hope Bancorp, Inc. will post $1.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, February 3rd will be given a dividend of $0.12 per share. The ex-dividend date is Wednesday, February 1st. This represents a $0.48 annualized dividend and a yield of 2.23%. Hope Bancorp’s dividend payout ratio (DPR) is presently 43.24%.
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HOPE has been the subject of several research reports. Zacks Investment Research downgraded Hope Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Keefe, Bruyette & Woods downgraded Hope Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 26th.
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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