Credit Suisse AG grew its holdings in shares of Hope Bancorp Inc (NASDAQ:HOPE) by 71.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,715 shares of the financial services provider’s stock after purchasing an additional 72,656 shares during the period. Credit Suisse AG owned approximately 0.14% of Hope Bancorp worth $2,581,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of HOPE. Quantbot Technologies LP acquired a new position in shares of Hope Bancorp during the fourth quarter valued at $46,000. SG Americas Securities LLC acquired a new position in shares of Hope Bancorp during the fourth quarter valued at $140,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Hope Bancorp during the first quarter valued at $140,000. Martin Capital Partners LLC acquired a new position in shares of Hope Bancorp during the fourth quarter valued at $163,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Hope Bancorp by 16.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,289 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 2,427 shares during the period. 88.29% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on HOPE. Zacks Investment Research lowered Hope Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. ValuEngine raised Hope Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, TheStreet lowered Hope Bancorp from a “b-” rating to a “c+” rating in a report on Tuesday, March 3rd.
Shares of HOPE opened at $7.94 on Thursday. The firm has a market capitalization of $993.09 million, a price-to-earnings ratio of 5.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03. Hope Bancorp Inc has a one year low of $7.06 and a one year high of $15.51. The stock’s fifty day moving average is $11.80 and its 200-day moving average is $13.82.
Hope Bancorp (NASDAQ:HOPE) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $126.49 million for the quarter, compared to analyst estimates of $127.50 million. Hope Bancorp had a return on equity of 8.54% and a net margin of 23.29%. Hope Bancorp’s revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Analysts forecast that Hope Bancorp Inc will post 1.1 EPS for the current fiscal year.
About Hope Bancorp
Hope Bancorp, Inc operates as the bank holding company for Bank of Hope that provides banking services to small and medium-sized businesses and individuals in the United States. The company offers personal and business checking, money market, savings, time deposit, and individual retirement accounts.
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