Sanctuary Advisors LLC Acquires Shares of 54,013 Hope Bancorp, Inc. $HOPE

Sanctuary Advisors LLC acquired a new position in shares of Hope Bancorp, Inc. (NASDAQ:HOPE) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 54,013 shares of the financial services provider’s stock, valued at approximately $904,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in shares of Hope Bancorp by 9.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,647 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 960 shares during the period. Hantz Financial Services Inc. lifted its holdings in shares of Hope Bancorp by 6.2% during the fourth quarter. Hantz Financial Services Inc. now owns 18,064 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 1,051 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Hope Bancorp by 5.1% during the fourth quarter. Corient Private Wealth LLC now owns 22,218 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,074 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Hope Bancorp by 0.4% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 269,046 shares of the financial services provider’s stock worth $2,950,000 after purchasing an additional 1,152 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in Hope Bancorp by 2.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,053 shares of the financial services provider’s stock valued at $644,000 after buying an additional 1,659 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, the director owned 346,120 shares of the company’s stock, valued at approximately $4,928,748.80. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.27% of the company’s stock.

Hope Bancorp Price Performance

Hope Bancorp stock opened at $13.92 on Friday. Hope Bancorp, Inc. has a one year low of $9.80 and a one year 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 business has a fifty day moving average of $13.80 and a two-hundred day moving average of $12.64. The company has a market cap of $1.78 billion, a P/E ratio of 13.92 and a beta of 0.83.

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

Hope Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Thursday, August 6th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $0.56 dividend on an annualized basis and a yield of 4.0%. Hope Bancorp’s payout ratio is currently 56.00%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. DA Davidson boosted their price objective on shares of Hope Bancorp from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Keefe, Bruyette & Woods raised their target price on shares of Hope Bancorp from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of Hope Bancorp from a “hold (c+)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average 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.