Metropolitan Life Insurance Co. NY held its position in Hope Bancorp, Inc. (NASDAQ:HOPE) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,466 shares of the financial services provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY owned approximately 0.06% of Hope Bancorp worth $1,677,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1st Global Advisors Inc. raised its position in Hope Bancorp by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 10,429 shares of the financial services provider’s stock worth $200,000 after buying an additional 122 shares in the last quarter. GW&K Investment Management LLC raised its position in Hope Bancorp by 15.2% in the first quarter. GW&K Investment Management LLC now owns 10,684 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,410 shares in the last quarter. TFS Capital LLC bought a new position in Hope Bancorp during the first quarter worth $208,000. Shelton Capital Management raised its position in Hope Bancorp by 15.0% in the first quarter. Shelton Capital Management now owns 11,668 shares of the financial services provider’s stock worth $224,000 after buying an additional 1,519 shares in the last quarter. Finally, KCG Holdings Inc. bought a new position in Hope Bancorp during the first quarter worth $239,000. Institutional investors own 79.21% of the company’s stock.
Shares of Hope Bancorp, Inc. (NASDAQ:HOPE) opened at 17.94 on Friday. Hope Bancorp, Inc. has a one year low of $15.00 and a one year high of $22.99. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 16.66 and a beta of 1.41. The company’s 50-day moving average price is $18.62 and its 200-day moving average price is $19.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This is a boost from Hope Bancorp’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.90%. Hope Bancorp’s dividend payout ratio is 44.44%.
A number of analysts recently commented on the company. Zacks Investment Research upgraded Hope Bancorp from a “sell” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Wednesday, July 12th. Piper Jaffray Companies dropped their price target on Hope Bancorp from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, May 30th. BidaskClub upgraded Hope Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Hope Bancorp in a report on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods set a $22.00 price target on Hope Bancorp and gave the stock a “hold” rating in a report on Tuesday, April 4th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $20.00.
Hope Bancorp Company Profile
Hope Bancorp, Inc, formerly BBCN Bancorp, Inc, is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama.
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