Loomis Sayles & Co. L P Boosts Holdings in Hope Bancorp, Inc. (NASDAQ:HOPE)

Loomis Sayles & Co. L P raised its position in Hope Bancorp, Inc. (NASDAQ:HOPE) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 776,103 shares of the financial services provider’s stock after purchasing an additional 15,410 shares during the period. Loomis Sayles & Co. L P’s holdings in Hope Bancorp were worth $9,538,000 at the end of the most recent reporting period.

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

Hope Bancorp Price Performance

Shares of NASDAQ:HOPE opened at $10.42 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.26 billion, a PE ratio of 12.71 and a beta of 1.15. The company’s fifty day moving average is $11.11 and its 200 day moving average is $12.19. Hope Bancorp, Inc. has a 52 week low of $9.80 and a 52 week high of $14.54.

Hope Bancorp (NASDAQ:HOPE) last released its quarterly earnings data on Monday, January 27th. The financial services provider reported $0.20 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%. Research analysts anticipate that Hope Bancorp, Inc. will post 1.09 earnings per share for the current year.

Hope Bancorp Announces Dividend

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

Analyst Upgrades and Downgrades

HOPE has been the subject of a number of research analyst reports. StockNews.com raised shares of Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, December 6th. DA Davidson cut their price objective on Hope Bancorp from $15.50 to $14.50 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Piper Sandler reduced their price objective on Hope Bancorp from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.88.

Insider Buying and Selling

In other Hope Bancorp news, EVP Thomas Stenger sold 4,185 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $11.83, for a total value of $49,508.55. Following the sale, the executive vice president now owns 19,267 shares of the company’s stock, valued at $227,928.61. This trade represents a 17.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.29% of the stock is owned by insiders.

About Hope Bancorp

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.