Wellington Management Group LLP Acquires 1,448,931 Shares of Hope Bancorp, Inc. $HOPE

Wellington Management Group LLP increased its holdings in Hope Bancorp, Inc. (NASDAQ:HOPE) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,438,933 shares of the financial services provider’s stock after purchasing an additional 1,448,931 shares during the quarter. Wellington Management Group LLP owned 0.09% of Hope Bancorp worth $156,485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in HOPE. Global Retirement Partners LLC bought a new position in shares of Hope Bancorp during the fourth quarter valued at about $28,000. International Assets Investment Management LLC purchased a new stake in Hope Bancorp during the 4th quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Hope Bancorp during the 2nd quarter worth approximately $36,000. Geneos Wealth Management Inc. grew its position in Hope Bancorp by 294.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,428 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 2,558 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in Hope Bancorp by 375.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,625 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 2,862 shares during the period. 84.00% of the stock is owned by institutional investors.

Hope Bancorp Trading Down 0.9%

NASDAQ HOPE opened at $13.79 on Tuesday. Hope Bancorp, Inc. has a fifty-two week low of $9.80 and a fifty-two week high of $14.59. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 0.98. The stock has a 50 day simple moving average of $13.82 and a two-hundred day simple moving average of $12.65. The stock has a market cap of $1.76 billion, a P/E ratio of 13.79 and a beta of 0.83.

Hope Bancorp (NASDAQ:HOPE) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.01. Hope Bancorp had a return on equity of 5.71% and a net margin of 12.53%.The firm had revenue of $147.82 million for the quarter, compared to analyst estimates of $146.50 million. During the same period last year, the company earned ($0.22) EPS. On average, analysts forecast that Hope Bancorp, Inc. will post 1.13 earnings per share for the current year.

Hope Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, August 6th. Hope Bancorp’s dividend payout ratio (DPR) is currently 56.00%.

Insider Buying and Selling at Hope Bancorp

In related news, Director Daisy Y. Ha sold 26,995 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $14.24, for a total transaction of $384,408.80. Following the transaction, the director owned 346,120 shares in the company, valued at $4,928,748.80. The trade was a 7.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on HOPE shares. Keefe, Bruyette & Woods increased their price objective on Hope Bancorp from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. DA Davidson upped their price target on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Hope Bancorp Profile

Hope Bancorp, Inc operates as the bank holding company for Hope Bank, a California-chartered financial institution serving small and middle-market businesses, professionals and affluent individuals. The company’s principal activities include accepting a variety of deposit products—such as checking accounts, savings and money market accounts, and time deposits—and extending commercial credit facilities. With a focus on community banking, Hope Bancorp tailors its offerings to meet the needs of clients in diverse industries, including real estate, professional services and import/export trade.

In its lending business, Hope Bancorp provides commercial real estate loans, construction financing, working capital lines of credit and equipment financing.