Empowered Funds LLC Purchases 20,904 Shares of Hope Bancorp, Inc. (NASDAQ:HOPE)

Empowered Funds LLC lifted its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 410,454 shares of the financial services provider’s stock after purchasing an additional 20,904 shares during the quarter. Empowered Funds LLC’s holdings in Hope Bancorp were worth $5,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HOPE. Louisiana State Employees Retirement System increased its holdings in Hope Bancorp by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 60,700 shares of the financial services provider’s stock worth $652,000 after buying an additional 1,200 shares in the last quarter. CWM LLC grew its stake in shares of Hope Bancorp by 15.7% in the third quarter. CWM LLC now owns 9,109 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,238 shares during the period. Inspire Investing LLC raised its holdings in shares of Hope Bancorp by 4.5% during the second quarter. Inspire Investing LLC now owns 32,603 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 1,413 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Hope Bancorp by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 84,949 shares of the financial services provider’s stock valued at $912,000 after purchasing an additional 1,484 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Hope Bancorp by 2.7% during the second quarter. The Manufacturers Life Insurance Company now owns 60,099 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 1,597 shares during the period. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on HOPE. StockNews.com upgraded shares of Hope Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Keefe, Bruyette & Woods upped their price objective on Hope Bancorp from $12.00 to $14.00 and gave the company a “market perform” rating in a research report on Tuesday, July 30th.

Hope Bancorp Stock Performance

HOPE opened at $13.51 on Monday. Hope Bancorp, Inc. has a 12-month low of $9.45 and a 12-month high of $14.53. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 16.08 and a beta of 1.13. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $12.74 and its 200 day moving average is $11.84.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, October 28th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $246.92 million for the quarter, compared to the consensus estimate of $121.67 million. Hope Bancorp had a net margin of 9.81% and a return on equity of 5.52%. During the same period in the previous year, the firm earned $0.25 EPS. On average, equities research analysts predict that Hope Bancorp, Inc. will post 0.85 EPS for the current year.

Hope Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, November 7th. Hope Bancorp’s payout ratio is 66.67%.

Insider Transactions at Hope Bancorp

In other news, Director Daisy Y. Ha sold 27,104 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $13.83, for a total value of $374,848.32. Following the completion of the sale, the director now directly owns 446,806 shares of the company’s stock, valued at $6,179,326.98. This represents a 5.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David P. Malone sold 10,428 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $12.71, for a total transaction of $132,539.88. Following the sale, the director now owns 109,991 shares in the company, valued at $1,397,985.61. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,282 shares of company stock valued at $541,733 over the last quarter. 5.29% of the stock is currently owned by company insiders.

Hope Bancorp Profile

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.