Stevens Capital Management LP acquired a new position in Hope Bancorp Inc (NASDAQ:HOPE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 53,570 shares of the financial services provider’s stock, valued at approximately $1,027,000.
Several other hedge funds and other institutional investors have also modified their holdings of HOPE. AQR Capital Management LLC boosted its position in shares of Hope Bancorp by 53.1% in the fourth quarter. AQR Capital Management LLC now owns 242,730 shares of the financial services provider’s stock worth $5,314,000 after buying an additional 84,137 shares during the period. American International Group Inc. acquired a new position in shares of Hope Bancorp during the third quarter worth $1,654,000. Hennessy Advisors Inc. boosted its position in shares of Hope Bancorp by 8.8% in the first quarter. Hennessy Advisors Inc. now owns 185,000 shares of the financial services provider’s stock worth $3,546,000 after buying an additional 15,000 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Hope Bancorp during the third quarter worth $2,982,000. Finally, NWQ Investment Management Company LLC acquired a new position in shares of Hope Bancorp during the fourth quarter worth $8,701,000. 78.57% of the stock is owned by institutional investors and hedge funds.
Hope Bancorp Inc (NASDAQ:HOPE) traded up 0.39% during mid-day trading on Friday, reaching $18.11. 735,895 shares of the company’s stock traded hands. The company has a 50-day moving average of $18.64 and a 200-day moving average of $20.06. Hope Bancorp Inc has a 52-week low of $13.99 and a 52-week high of $22.99. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of 16.82 and a beta of 1.28.
The company also recently declared a quarterly dividend, which was paid on Friday, May 12th. Stockholders of record on Friday, April 28th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, April 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.66%. Hope Bancorp’s dividend payout ratio is currently 43.24%.
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A number of research analysts have recently weighed in on HOPE shares. Zacks Investment Research cut shares of Hope Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, February 6th. Keefe, Bruyette & Woods cut shares of Hope Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 26th. Piper Jaffray Companies lowered their target price on shares of Hope Bancorp from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, April 17th. Finally, FIG Partners raised shares of Hope Bancorp from a “market perform” rating to an “outperform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.50.
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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