Wellington Management Group LLP Decreases Stake in Hope Bancorp, Inc. (NASDAQ:HOPE)
Wellington Management Group LLP cut its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,324,117 shares of the financial services provider's stock after selling 229,391 shares during the quarter. Wellington Management Group LLP owned 3.58% of Hope Bancorp worth $53,143,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Hope Bancorp by 109.9% in the third quarter. Barclays PLC now owns 253,437 shares of the financial services provider's stock valued at $3,183,000 after buying an additional 132,677 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hope Bancorp by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,798,213 shares of the financial services provider's stock valued at $22,100,000 after buying an additional 240,192 shares in the last quarter. EMC Capital Management boosted its stake in shares of Hope Bancorp by 1,082.6% in the fourth quarter. EMC Capital Management now owns 29,566 shares of the financial services provider's stock valued at $363,000 after buying an additional 27,066 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hope Bancorp by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 674,643 shares of the financial services provider's stock valued at $8,291,000 after buying an additional 26,548 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Hope Bancorp during the fourth quarter worth $657,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on HOPE. Wall Street Zen raised Hope Bancorp from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Piper Sandler reduced their price objective on Hope Bancorp from $13.00 to $12.00 and set a "neutral" rating for the company in a report on Thursday, January 30th.
Check Out Our Latest Research Report on Hope Bancorp
Shares of HOPE stock opened at $10.16 on Friday. The stock has a fifty day moving average price of $9.99 and a 200 day moving average price of $11.33. The stock has a market cap of $1.30 billion, a PE ratio of 12.39 and a beta of 0.88. Hope Bancorp, Inc. has a 1 year low of $8.83 and a 1 year high of $14.54. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.96 and a current ratio of 0.97.
Hope Bancorp (NASDAQ:HOPE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Hope Bancorp had a return on equity of 4.84% and a net margin of 9.95%. The company had revenue of $217.17 million during the quarter, compared to analysts' expectations of $114.97 million. During the same period in the previous year, the firm posted $0.23 earnings per share. Sell-side analysts forecast that Hope Bancorp, Inc. will post 1.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 2nd were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.51%. Hope Bancorp's dividend payout ratio (DPR) is 71.79%.
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.
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